Interest Re: (Last Month's Rent Deposit)

Caselaw.Ninja, Riverview Group Publishing 2021 ©
Date Retrieved:	2024-04-27
CLNP Page ID:	2311
Page Categories:	Payment of Rent (LTB)
Citation:	Interest Re: (Last Month's Rent Deposit), CLNP 2311, <https://rvt.link/9u>, retrieved on 2024-04-27
Editor:	Sharvey
Last Updated:	2023/11/25

Residential Tenancies Act, 2006, S.O. 2006, c. 17

106 (1) A landlord may require a tenant to pay a rent deposit with respect to a tenancy if the landlord does so on or before entering into the tenancy agreement. 2006, c. 17, s. 106 (1).

(2) The amount of a rent deposit shall not be more than the lesser of the amount of rent for one rent period and the amount of rent for one month. 2006, c. 17, s. 106 (2).

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(6) A landlord of a rental unit shall pay interest to the tenant annually on the amount of the rent deposit at a rate equal to the guideline determined under section 120 that is in effect at the time payment becomes due. 2006, c. 17, s. 106 (6).

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(9) Where the landlord has failed to make the payment required by subsection (6) when it comes due, the tenant may deduct the amount of the payment from a subsequent rent payment. 2006, c. 17, s. 106 (9).