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Originally Posted by Torture
I've always been on the "renting is cheaper than owning" bandwagon but I think it might be time to start house shopping.
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Most landlords are terrible.
Did your landlord put your damage deposit into an interest bearing account? If not, you can probably bail on the lease if that part is included in it.
The interest bearing account earns literally nothing at the end of a year, but it's a requirement they must fulfill.
https://www.alberta.ca/security-depo...d-changes.aspx
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Holding the money
Landlords must put all security deposits in an interest-bearing trust account in a bank, treasury branch, credit union or trust company in Alberta within 2 banking days of the time they collect them from the tenant.
Records
The landlord is required to keep security deposit records for at least 3 years after the tenancy ends.
Interest chart
Landlords must pay interest on their tenants’ security deposits at the end of each tenancy year.
The interest must be paid every year unless the landlord and tenant agree in writing that the interest will be compounded yearly and paid to the tenant at the end of the tenancy.
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