House Rent question on Security Deposit

[Frequitude]

When you rent a place you normally ask for first and last month's rent, right? And also a negotiated security deposit.

Does the last month's rent count as the security deposit, or do you ask for first, last AND a security deposit up front?

[Canada 02]

I could be wrong, but the Residential Tenancies Act says that the security deposit can be no more than one months rent. Last month rent AND a security deposit would not be allowed, IMO

[BlackArcher101]

That's what I recall as well Canada 02. They cannot withhold more than one months rent.

[getbak]

I don't think I've ever had to pay first and last month's rent plus a security deposit.

I've paid first month's rent and a security deposit which was equal to one month's rent, but nothing that was ever specified as "last month's rent". Rent on my apartment has gone up $155 per month since I moved in (which isn't even close to the increases some people have seen), so it wouldn't make sense for a landlord to say "pay me for the last month right now", because they'd be losing money for the month after you give your notice.

In Alberta, the maximum amount of a security deposit is one month's rent, and it is fully refundable (with interest) when the tenant moves out (assuming the landlord doesn't have to use part of it to repair any damage the tenant may have caused over and above normal wear and tear).


This site seems to have some good information (in plain English) about the Alberta Landlord Tenant Act: http://tenant.landlordandtenant.org/home/default.aspx

[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).

[blankall]

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).

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.

[photon]

Yup, up to one month's rent.

You can also be charged a pet deposit but strangely enough those aren't refundable (so it's basically a pet fee).