The Half-Month Cap: How Much Deposit a BC Landlord Can Collect
BC caps security and pet damage deposits at half of the first month's rent each. Here are the numbers, the exemptions and what happens if you collect too much.
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BC caps security and pet damage deposits at half of the first month's rent each. Here are the numbers, the exemptions and what happens if you collect too much.
Yes — and almost everything attached to that yes is where landlords get into trouble and tenants overpay. First month's rent is just rent; last month's is Ontario's only legal deposit, capped at one rental period, earning interest every year at that year's guideline rate. Damage, security, cleaning, and pet deposits ar