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At the start of a tenancy, a landlord can ask for a security deposit (or damage deposit) – it
can be no more than half of the first month’s rent.
Paying a security deposit means that a tenancy agreement has been entered into and
neither the landlord nor the tenant can change their mind. The landlord cannot prevent the
tenant from moving in. Even if the tenant doesn’t move into the rental unit, they’re
responsible for all obligations under a tenancy – including paying rent or repairing damages
until the tenancy has ended in the proper manner
Landlords in British Columbia are required to pay interest on security deposits on an annual
basis. That rate is set each year by the Residential Tenancy Branch. The rate has remained at
0% for the past nine years. The figure is tied to the prime lending rate, which remains below
4.5%.
After a tenant has moved out and given the landlord a forwarding address in writing,
the landlord has 15 days to: Return the deposit(s) with any interest to the tenant. Ask
the tenant to agree in writing to any deductions and return the difference to the tenant.
Landlords are required to prepare a written agreement for every tenancy. Even if a
landlord doesn’t prepare one, the standard terms of a tenancy agreement still apply.
Also, paying a security deposit establishes a tenancy, even if there is no written tenancy
agreement and if the tenant never moves in.
Both landlords and tenants must sign and date the agreement. Landlords need to
provide a printed copy to their tenants within 21 days of entering into the agreement.
Both landlords and tenants must sign and date the agreement. Landlords need to
provide a printed copy to their tenants within 21 days of entering into the agreement.
A form that is to be filled out ensuring that the condition of the residence is up to par.
11. Does the Residential Tenancies Act apply to a verbal rental agreement?
Yes, Landlords and tenants may not avoid or contract out of this Act or the
regulations.
Yes, you are required to pay for your own insurance for your personal items
16. When a rented premise is sold to a new owner, does the rental agreement continue?
Once a property is sold, the buyer becomes the new landlord and the tenancy continues under
the same terms.
Your landlord can charge a non-refundable fee of up to $25 for late payment of rent,
but only if this term has been written into your tenancy agreement.
19. Can a landlord charge a fee if a tenant's rent cheque is returned because of non-
sufficient funds (N.S.F.) in the tenant's account?
If you do not have enough money in your bank account when your landlord tries to deposit
your rent cheque, your bank may charge your landlord a service fee. If this happens, your
landlord can require that you pay them back for the cost of the fee. In addition, your landlord
can charge you a non-refundable fee of up to $25 for the return of your cheque by a financial
institution, but only if this term has been written into your tenancy agreement.
20. Can a tenant withhold rent because a landlord is not maintaining the premises?
The right of a tenant to the return of a security deposit or a pet
damage deposit, or both, is extinguished if
(a)the landlord complied with section 35 (2) [2
opportunities for inspection], and
(b)the tenant has not participated on either occasion.
21. Can a landlord terminate a rental agreement when the tenant does not pay rent?
When a tenants is late paying rent the rented can end the agreement (47 1 B)