Security Deposits

Find information about the process of collecting, paying, holding, using, and returning or getting back a security deposit for a residential tenancy.

A security deposit is a sum of money paid by a tenant to a landlord at the beginning of a tenancy, which is held in trust by the landlord. The security deposit is used to compensate for the cost of repair of any unreasonable damage to the rental property caused by the tenant, other occupants, or their guests during the tenancy.