Tag Archives: Agreement of Lease

Agreement of Lease – When must the deposit be returned to the tenant?

The battle of the deposit is an age-old and hotly debated topic. Tenants are loathe to pay it, and quick to demand it back when the lease ends. Landlords generally don’t lease the property without it, and are loathe, and slow, to pay it back when the property rental comes to an end.

So, when must the landlord return the deposit to the tenant? The short answer is: as soon as reasonably possible but nevertheless within 7 days after the termination of the lease, or in accordance with the Lease Agreement. (The terms of the Lease Agreement must be the same as, or more favourable than the Rental Housing Act).