Ontario · Task guide
Collect, apply and reconcile Ontario rent and key deposits
Ontario deposits work differently from most provinces: one month's rent deposit applied to the last month, annual interest at the guideline rate, a refundable key deposit, and nothing held for damage. Three modes: collecting at the start, paying interest each year, and reconciling at the end.
Preparation0 of 4 stages
Preparation only. Nothing is saved to an account.
Stage 1 of 4
Decide what you may collect
A rent deposit of at most one month's rent (one rental period), to be applied to the last month. A refundable key deposit up to the replacement cost. No damage or security deposit.
The lease page stating the deposit and what it's for.