Do I need to sign a lease or tenancy agreement?
No. However, if you (the tenant) choose to present a signed agreement to the landlord, he or she must sign it and return it within 21 days. The 21-day period begins when you sign the agreement, and you may withhold payment until the agreement is signed and returned to you.
Types of rental periods, which determine how long you can stay in the apartment:
- Periodic Lease: the rental period can relate to a calendar week, month, or year Fixed Term Lease: lease of predetermined period
- Hybrid Lease: Combining a fixed term followed by a periodic term
Is a signed move in/move out condition report required?
May the landlord request a security deposit?
Yes, but there are regulations:
- The deposit must be equivalent to no more than one month’s rent.
- The landlord must deposit all security deposits within two business days of collecting them.
- Interest must be paid to you, the tenant, annually at the end of each tenancy year, or compounded annually and paid at the end of the tenancy if both the landlord and tenant agree in writing.
- The interest rate is regulated at 3% below the November 1 rate for cashable one-year guaranteed investment certificates held or offered by ATB Financial (formerly known as Alberta Treasury Branches).
- The landlord must return the security deposit within 10 days of the tenant giving up possession of the premises.
- The landlord cannot increase the security deposit during the tenancy.
May the landlord request key money?
Yes. If key money is refundable, it is considered to be part of the security deposit which cannot exceed one month’s rent.
May the landlord request post-dated cheques?
May a landlord refuse to rent to a tenant who has pets or smokes?