Free landlord calculator · Ontario
Enter the deposit, the current rent and the year, and see the interest owed on the deposit and how much of it can bring the deposit up to the new rent.
Work out a year’s interest on a last month’s rent deposit, and how much of it can top the deposit up to the current rent.
Section 106 of the Residential Tenancies Act: interest is paid every year at the rent increase guideline in effect when the payment becomes due, and the landlord may keep from it the amount needed to bring the deposit up to the most it may now be, one month’s rent. Amounts are rounded to the cent.
Your inputs stay in this page and are not saved or sent anywhere.
A rent deposit can be no more than one month's rent, or one rent period if that is shorter, and is applied to the last rent period of the tenancy. The landlord pays interest on it every year at the rent increase guideline rate (section 106).
When the rent rises, the landlord may use that year's interest to bring the deposit up to the new maximum, instead of paying that part of the interest to the tenant.
