Landlords told to stop increasing security deposits

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(PRESS RELEASE)

The Prices and Consumer Affairs Division has seen a notable increase in the number of complaints with regards to security deposits for rental properties.

The Division is reminding landlords and their agents that it is unlawful to demand tenants to make security deposits in amounts larger than is required by law. This amount should be equal to ONE calendar month’s rent. The landlord/agent must give the tenant a signed receipt that must be dated, have the amount on it, say what it is for and have the name and address of the tenant.

At the end of the tenancy, the tenant is not entitled to use the security deposit to pay the last month’s rent. The landlord/agent must repay the security deposit to the tenant, unless: the tenant is behind in rent and/or damage has been done to the premises (house) or furniture, which is beyond fair wear and tear.

The Division is appealing to landlords/agents to adhere to the law and to desist from demanding more than one month’s rent when entering rental agreements. The Division invites landlords/agents and tenants to visit our office at the corner of Redcliffe Street and Corn Alley to collect a copy of the Landlord and Tenants Renting Rights, which outlines the rights and responsibilities of both parties.

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