Security deposits and changes

How it works

Landlords may ask tenants for a security deposit, sometimes called a damage deposit.

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.

Interest

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.

Records

The landlord is required to keep security deposit records for at least 3 years after the tenancy ends.

Contact this service

Edmonton and area:
780-427-4088

Other areas in Alberta (toll free):
1-877-427-4088

8:15 am - 4:30 pm (Monday to Friday, closed statutory holidays)

Related services

Residential Tenancies Act and Regulations