Rental Agreement Bc Damage Deposit
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The landlord must repay all deposits plus any interest within fifteen days, unless the tenant agrees in writing that the landlord can withhold all or part of the deposit, or the landlord requests a resolution of the dispute in order to keep all or part of the deposit. The landlord cannot automatically withhold all or part of the deposit at the end of the tenancy. Unless the landlord has the tenant`s written consent to withhold all or part of a deposit, or has a pending order from a dispute resolution officer that can be applied to the deposit, the landlord must return the deposit plus interest within 15 days of the termination of the lease or request dispute resolution from the Residential Tenancies Branch to make a claim against the deposit. The 15-day period begins when the rental ends or the tenant provides a forwarding address in writing, whichever is later. The fee for requesting dispute resolution is $100. Low-income landlords can submit a paper application to waive the application fee. The landlord and a tenant must jointly inspect the condition of the rental unit at the end of the lease (a “guided tour”) and complete a condition inspection report. By comparing the move-in and moving condition inspection reports, landlords and tenants can determine if the rental unit has been damaged and who is responsible for the repairs. The landlord must charge the interest due on the total amount of the deposit or deposit for damage to pets before the deductions are made. Interest is calculated on the basis of an interest rate set at the beginning of each year and is calculated from the date the tenant paid the deposit until the date it is returned to the tenant. Administration fees for returned cheques ($25) or moving between rental units on a single property can only be charged if the lease specifically allows it (RTR, § 7 (1) (d)). Interest is calculated on the basis of the interest rate set at the beginning of each year.
Interest will be compounded on the anniversary of receipt of the deposit by the owner. Condition Inspection Reports: If your landlord does not give you the opportunity to participate in a move-in or moving condition inspection, or does not provide you with a copy of one of the reports within the required time frame, they will lose the right to sue your pet deposit or security deposit for damage to the rental unit. Conversely, if you do not attend an inspection after receiving two opportunities, you may lose the right to have your deposit(s) refunded. For more information, see sections 24 and 36 of the RTA. A landlord may also require a pet security deposit at the beginning of a tenancy or during a tenancy if a tenant receives a pet with the landlord`s permission. The deposit cannot exceed half of a month`s rent, regardless of the number of pets allowed. A landlord can refund the deposit to the tenant electronically, in person, by mail, or by dropping it off in the mailbox or mail slot of the tenant`s place of residence. If the landlord returns the deposit electronically, they cannot charge the tenant a fee for it. If the landlord complies with all the regulations for condition checks, but the tenant did not participate in the health check on both occasions, the tenant loses his right to claim his deposit. The deposit is also known as a deposit because the landlord may request that any damage caused by the tenant beyond the normal wear and tear of the rental unit or all costs related to the rental be covered in whole or in part. A tenant can request a dispute resolution if the landlord has withheld all or part of the deposit without the tenant`s written permission.
The tenant`s application can be made within two years of the end of the tenancy – provided that the tenant has informed the landlord of their forwarding address in writing (within one year after the end of the lease) and the landlord has not refunded the deposit or requested dispute resolution before the expiry of the 15-day period. Guide Dogs: If you have a dog that falls under the Guide and Service Dog Act, your landlord must allow it and cannot require a pet security deposit. Since the key interest rate has been below 4.5% since 2009, deposit rates are 0%. Prefabricated house (mobile home) Parking rentals that began after December 31, 2003 do not require a tenant to pay a pet deposit or security deposit. For deposits paid before the 31st. In December 2003, the landlord has 15 days to take one of the following measures after a tenant has moved and provided him with a forwarding address in writing: According to Article 19( 1) of the Housing Rental Act, the maximum amount that a landlord can charge for a deposit is half of the monthly rent. If your landlord requires a deposit, you must pay it within 30 days of the date it is due to be paid. The deposit also covers damages.
If your landlord believes you are responsible for damage beyond reasonable wear and tear, they can ask the Residential Tenancies Branch for permission to keep your deposit. When a residential tenancy ends, a tenant must provide the landlord with their forwarding address in writing in order to retrieve their deposit(s). Unless the landlord demands compensation for the damage or makes a dispute resolution request to withhold some of the deposits, tenants should recover their deposits within 15 days of the move. When a residential tenancy ends and after a tenant has provided the landlord with their forwarding address in writing, the landlord must return all deposits plus any interest, unless the tenant agrees in writing to allow the landlord to keep all or part of the deposit, or an arbitrator orders the landlord to withhold the deposit. Is interest earned or paid on the deposit? It has been a long time since tenants have received interest on their deposit. In fact, the interest rate has been 0% since 2009. Here is a link to interest rates on security deposits since 1974: www2.gov.bc.ca/gov/content/housing-tenancy/residential-tenancies/ending-a-tenancy/returning-deposits#Deposit%20Interest A landlord can request to withhold part of a deposit for coverage: Here are the rules for depositing at the end of the rental period: Lease agreements may not include a term that provides that the landlord automatically completes the deposit at the end of a rental or partially retained (Art. 20 (e)). .
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