Property Management Licensing Practice Exam · Question
Under the British Columbia Residential Tenancy Act, what is the maximum amount a landlord can charge for a security deposit?
The British Columbia Residential Tenancy Act stipulates that a security deposit cannot be more than half of one month's rent.
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Question: Under the British Columbia Residential Tenancy Act, what is the maximum amount a landlord can charge for a security deposit?
Answer options:
- One full month's rent ✅ Half of one month's rent
- Two months' rent
- A flat fee of $500
Correct answer: Half of one month's rent
Explanation: The British Columbia Residential Tenancy Act stipulates that a security deposit cannot be more than half of one month's rent.
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