Hello
I live in Mississauga.
I have just read the below, and my lease expires in June. My landlord has not disclosed some defects in the unit so I want to be prepared:
GUIDELINE AND RENT DEPOSITS
A landlord can collect a rent deposit from a new tenant on or before the start of a new tenancy. The rent deposit can only be used as the rent payment for the last month or week before the tenant moves out. The landlord must pay the tenant interest on the rent deposit every year.
Under the RTA, the interest rate is the same as the Rent Increase Guideline.
Do they pay it every year?
I know its illegal, but I gave them 5 month rent + plus last month in advance. should not they pay me interest on the 6 months?
Thanks
I live in Mississauga.
I have just read the below, and my lease expires in June. My landlord has not disclosed some defects in the unit so I want to be prepared:
GUIDELINE AND RENT DEPOSITS
A landlord can collect a rent deposit from a new tenant on or before the start of a new tenancy. The rent deposit can only be used as the rent payment for the last month or week before the tenant moves out. The landlord must pay the tenant interest on the rent deposit every year.
Under the RTA, the interest rate is the same as the Rent Increase Guideline.
Do they pay it every year?
I know its illegal, but I gave them 5 month rent + plus last month in advance. should not they pay me interest on the 6 months?
Thanks