How much can be charged for a security deposit?
The amount of the security deposit that a landlord can ask a tenant to pay depends on the type of rental agreement: • if the premises are rented from week to week, the deposit cannot be greater than the first two weeks rent; • for a monthly rental agreement, it must not exceed three-quarters of the first months rent; • where the premises are rented for a fixed term of 6 to 12 months, the deposit cannot exceed three-quarters of the first months rent if the rent was proportioned to a monthly payment.
