Are you searching for information on Alberta tenancy agreement damage deposit? Look no further, as we have got you covered.
A damage deposit is a sum of money that tenants pay to landlords to assure them that they will return the rental property in the same condition they received it, barring normal wear and tear. In Alberta, the maximum amount that a landlord can charge as a damage deposit is equal to one-month`s rent.
The Alberta Residential Tenancies Act (RTA) outlines the rules surrounding damage deposits. According to Section 38(1) of the RTA, a landlord must not require or accept a damage deposit that exceeds one-month`s rent. However, a tenant can voluntarily offer to pay a higher deposit. If the tenant agrees on a higher deposit, the landlord must provide a written lease outlining the terms of the agreement, including the deposit amount.
Landlords in Alberta must also comply with strict rules on how to handle and return damage deposits. When a tenant moves out, landlords must return the damage deposit (plus any interest earned) within 10 days, or explain why the deposit is being withheld. There are only a few valid reasons why a landlord can withhold a damage deposit, such as unpaid rent, outstanding utility bills, or damages caused by the tenant beyond normal wear and tear.
If a tenant disagrees with the landlord`s decision to withhold part or all of the deposit, they can apply for dispute resolution with the Residential Tenancy Dispute Resolution Service (RTDRS). The RTDRS is an independent body that helps landlords and tenants resolve disputes related to rental properties.
In summary, landlords in Alberta must adhere to the regulations outlined in the RTA when it comes to damage deposits. They cannot charge more than one-month`s rent, and must follow specific guidelines when handling and returning the deposit. Tenants also have the right to dispute any withholding of their deposit if they believe it is unfair.
If you require more information on Alberta tenancy agreement damage deposits, visit the Service Alberta website or consult with a legal professional.