Deposit rules are set by each province, and they differ a lot: Quebec bans deposits, Ontario allows only a last month’s rent deposit, and most others cap a security deposit at half a month or a month of rent. Rates below are for 2026; check your province’s page before you sign.
Ontario
A landlord may ask for a deposit for the last month’s rent, no more than one month (or one period), and a refundable key deposit. Damage and pet deposits are not allowed. Each year the landlord pays interest on the last month’s rent deposit at the rent increase guideline: 2.1% for 2026. Sources: Ontario standard lease guide, rent increase guideline.
British Columbia
A security deposit of up to half a month’s rent, plus a pet damage deposit of up to half a month. Interest is set each January 1; it is 0% for 2026. The landlord must return the deposit, or apply to keep part of it, within 15 days of the later of the end of the tenancy and receiving your forwarding address in writing, or owe double. Source: Government of BC.
Alberta
A security deposit of up to one month’s rent. The interest rate for 2026 is 0%. The landlord returns the deposit, or an itemized statement of deductions, within 10 days of the tenant moving out. Sources: Alberta: starting a tenancy, deposit interest rate.
Quebec
Security deposits are not allowed; a landlord can ask only for the first month’s rent in advance. Source: Gouvernement du Québec.
Manitoba
A security deposit of up to half a month’s rent, and a pet deposit of up to one month. Interest is 0.5% for 2026. The landlord has 14 days after the tenancy ends to return the deposit or make a claim. Source: Manitoba Residential Tenancies Branch.
Saskatchewan
One security deposit of up to one month’s rent. No interest is owed unless the tenancy lasts five years or more. The landlord has 7 business days after the tenant leaves to return it or claim against it. Source: Government of Saskatchewan.
Nova Scotia
A security deposit of up to half a month’s rent. No interest has been owed since 2013. The landlord must file a claim within 10 days of the tenancy ending to keep any of it; otherwise the full deposit goes back to the tenant. Source: Government of Nova Scotia.
New Brunswick
A deposit of up to one month’s rent (one week for a weekly tenancy), held by the province rather than the landlord. The landlord has 7 days after the tenancy ends to claim part of it. Source: New Brunswick Residential Tenancies Tribunal.
Newfoundland and Labrador
A security deposit of up to three-quarters of a month’s rent; the interest rate for 2026 is 0%. The landlord returns it within 10 days of the tenancy ending unless there is a claim. Source: Government of Newfoundland and Labrador.
Prince Edward Island
One security deposit of up to one month’s rent (one week for a weekly tenancy). Interest is owed at a rate set under the regulations; ask the Island Regulatory and Appeals Commission for the current rate. The landlord has 15 days to return it or claim against it, or may owe double. Source: Residential Tenancy Act (PEI).
For landlords and tenants
Do a move-in and move-out inspection with photos; the property photo report helps. Keep receipts for rent and deposits with the rent receipt generator, and check this year’s increase limit with the rent increase calculator.
Try the rent affordability calculator →
Official source
Government of BC · Deposits and fees
This guide explains general rules. Confirm your figures with your lender, lawyer, or the official source before you act.