A landlord client is renting a unit on a weekly tenancy at $450 a week. What is the largest rent deposit the landlord may require from the tenant?
Correct Answer
B) $450, the rent for one weekly period
Section 106(2) limits a rent deposit to the lesser of the rent for one rent period and the rent for one month. For a weekly tenancy one rent period is a week, so the maximum is $450. Section 105(1) makes the rent deposit the only security deposit a landlord may collect.
Why This Is the Correct Answer
For a weekly tenancy the lesser of one period's rent ($450) and one month's rent (about $1,950) is $450.
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A landlord client is leasing a unit in a building first occupied for residential purposes in 2022. She wants the tenant to know that future rent increases are not capped by the guideline, and to be able to prove the exemption if challenged. What should the salesperson recommend?
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A landlord client's draft written lease gives only a property manager's email for contact and omits the landlord's legal name and address for notices. If the tenant signs it that way, what is the consequence under the Residential Tenancies Act, 2006?