Quote:
Originally Posted by photon
First and last month is something from other provinces I believe. Here it's just the security deposit and the first month's rent.
For Alberta you can have the security deposit be up to one month's rent. At this time there's no requirement to pay interest since rates are so low (though there are requirements as to where you have to put that security deposit).
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First and last month's is common in Ontario. In the place I've lived in both BC and Alberta, the norm is a damage/security deposit. In BC it's half a month's rent. In Alberta, I believe it can be up to one months rent, but don't quote me on that.