Question: Can I Get A Refund On A Holding Deposit?

Can a landlord keep a holding deposit?

The Alberta law that applies to the landlord/tenant relationship is the Residential Tenancies Act.

Sometimes, the landlord will ask for a deposit from you to hold the premises you wish to rent.

The landlord will have a right to keep the deposit if you do not move in..

Can I get my holding deposit back if I change my mind?

If the tenant changes their mind and doesn’t take the property, you must grant a holding deposit refund and return their holding deposit minus any costs you’ve incurred on their behalf and any loss of rent you’ve suffered as a result of their action.

What if your landlord doesn’t give your deposit back?

If a tenant does not receive the statement of account and security deposit from their landlord within a reasonable period after the 10 day deadline, he or she should write to the landlord requesting the return of the security deposit. … Tenants may also consider filing a complaint with Service Alberta.

How much should a holding deposit be?

A holding deposit can be up to 1 week’s rent. If the rent is monthly, work out 1 week’s rent by multiplying the monthly amount by 12 months then dividing it by 52 weeks.

Can you get your deposit back if you didn’t sign a lease?

If you made a deposit on a property, you should get something in return to make it a valid contract. … If you change your mind within that period, the landlord cannot hold your deposit. Virtually all residential leases are required to be in writing, so, if you haven’t signed a lease, there is no lease.

Is a holding deposit the same as a security deposit?

What’s the Difference Between a Security Deposit and a Holding Deposit? money. A holding deposit is collected before you sign a written lease agreement, while the security deposit is collected after.

Can I keep the security deposit for breaking lease?

Know that your landlord can’t keep your security deposit if you break your lease. This is your money, held in a trust account, unless you forfeit some or all of it through damage to your rental unit. They can, however, keep your last month’s rent and sue for any other unpaid rent.

Can holding deposits be refunded?

The holding deposit can only be retained by the landlord or their agent if the tenant signs the lease agreement, or having paid the holding deposit chooses not to sign the lease. In short, if the tenant pays a deposit then chooses not to proceed with signing the lease, the holding deposit is not refundable.

Can I get my deposit back if I never moved in?

Security deposit refunds are often a matter of state law or even city ordinances. … Generally, however, if you give a security deposit for an apartment that you don’t ever take possession of or sign a lease for, then you are entitled to the entire deposit back.

Landlords are only allowed to keep the holding deposit for 15 days, unless both parties agree another deadline in writing. If the landlord has failed to accept or reject the application by the deadline, then the money must be returned to the tenant in full.

How long can landlords hold deposits?

If your deposit is protected. You should usually get your deposit back within 10 days of agreeing on the amount with your landlord. It can take a lot longer if you and your landlord disagree on the amount that’s being taken off.