Property Management Licensing Practice Exam · Question
Sarah is a property manager in Vancouver, BC, for a residential building. A tenant, Mr. Chen, has asked to pay his security deposit in two installments. What should Sarah do?
Under the Residential Tenancy Act (RTA) in BC, a security deposit must be paid in full, and collected prior to the start of the tenancy agreement.
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Question: Sarah is a property manager in Vancouver, BC, for a residential building. A tenant, Mr. Chen, has asked to pay his security deposit in two installments. What should Sarah do?
Answer options: ✅ Inform Mr. Chen that security deposits must be paid in full before the tenancy begins, as per the Residential Tenancy Act (RTA).
- Accept the two installments, ensuring she provides receipts for each payment.
- Request the landlord's permission to accept the two installments before agreeing to it.
- Refuse to rent to Mr. Chen due to his inability to pay the full security deposit upfront.
Correct answer: Inform Mr. Chen that security deposits must be paid in full before the tenancy begins, as per the Residential Tenancy Act (RTA).
Explanation: Under the Residential Tenancy Act (RTA) in BC, a security deposit must be paid in full, and collected prior to the start of the tenancy agreement.
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