Security Deposit Records

A landlord has to keep records of security deposits from each tenant. The records have to show:

• when the deposit was given;
• how much was paid;
• the date the deposit was paid into a trust account;
• the name and address of the bank, credit union, treasury branch or trust corporation holding the deposit account;
• details of the interest and how much is paid to a tenant; and
• details of how the deposit is dealt with at the end of the tenancy, including how any part of it was repaid to the tenant

The records have to be kept for at least three years after a tenancy is over, and must be available for inspection by the Director of Residential Tenancies. It is an offence for a landlord to fail to keep the records in the way required by the law.

May 2005