Get the rules in BC about security deposits and pet damage deposits at the start and the end of a rental term, and find out if you should be getting interest on the return of your damage deposit.
The security deposit is also known as damage deposit because the landlord can apply to keep all or part of it cover any damage the tenant does to the rental unit beyond normal wear and tear, or any costs related to the tenancy.
How much is a damage deposit in BC?
The damage deposit cannot be more than half the first month’s rent. The security and pet damage deposit combined cannot be more than one month’s rent. A landlord cannot increase the amount of a deposit with a rent increase.
As per the Residential Tenancy Act, here are the basic rules about security deposits and pet deposits:
Can a landlord keep a damage deposit?
The landlord cannot automatically keep all or part of the deposit at the end of the tenancy. Unless the landlord has the tenant’s written consent to keep all or part of a deposit or has an outstanding dispute resolution officer’s order that can be applied against the deposit, the landlord must return the deposit plus interest within 15 days after the tenancy ends, or apply for dispute resolution with the Residential Tenancy Branch to make a claim against the deposit. The 15 day period commences when the tenancy ends or the tenant provides a forwarding address in writing, whichever is later. The fee to apply for dispute resolution is $100. Low income landlords can submit a paper application to waive the application fee.
Here are the rules for the damage deposit at the end of the rental term:
Is there interest earned or paid on the damage deposit?