Security deposit amount
The security deposit can’t amount to more than one month’s rent at the time the tenancy starts. It can’t be increased as rent increases.
Landlords must put all security deposits in an interest-bearing trust account in a bank, treasury branch, credit union or trust company in Alberta within 2 banking days of the time they collect them from the tenant.
The landlord must pay interest to the tenant at the end of each tenancy year, unless both parties agree otherwise in writing that the interest be compounded annually and paid to the tenant at the end of the tenancy.
The landlord is required to keep security deposit records for at least 3 years after the tenancy ends.