Security Deposit

Direct AnswerAs of July 2026Money a landlord holds at the start of a tenancy to cover unpaid rent or damage beyond normal wear and tear when the tenant leaves. In Canada, rules are provincial: Ontario allows a last month's rent

Money a landlord holds at the start of a tenancy to cover unpaid rent or damage beyond normal wear and tear when the tenant leaves. In Canada, rules are provincial: Ontario allows a last month's rent deposit only (not a damage deposit), British Columbia caps security deposits at half a month's rent (with an optional pet damage deposit), Alberta allows up to one month held in an interest-bearing trust account, and Quebec generally prohibits required security or damage deposits. Always confirm current limits, interest, and return timelines with the provincial tenancy authority.

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