Full legislation
s.120AAZC
Rental deposit
(1)
This section applies if a tenant of a regulated tenancy for a subdivided unit
is required to pay to the landlord a rental deposit for the tenancy.
(2)
Despite any provision of the tenancy, the rental deposit payable by the tenant
may not be more than 2 months’ rent under the tenancy.
(3)
If a provision of the tenancy requires the tenant to pay a rental deposit of
more than 2 months’ rent, the provision is taken to be requiring the tenant to pay a
rental deposit equal to 2 months’ rent only.
(4)
Despite any provision of the tenancy, the rental deposit paid by the tenant is
to be retained by the landlord during the term of the tenancy and is, subject to
subsection (5), to be returned to the tenant free of interest no later
than—
(a)
if—
(i)
the term is a first term followed by a second term—the expiry of the
term; or
(ii)
the term is a second term, or a first term not followed by a second
term—
the expiry of 7 days after the tenant’s delivery of vacant possession
of the subdivided unit to the landlord
on—
(A)
the expiry of the term; or
(B)
an early termination of the tenancy; or
(b)
the expiry of 7 days after the settlement of any outstanding money payable
by the tenant to the landlord under the tenancy,
whichever is the later.
(5)
The landlord may deduct from the rental deposit the amount of any arrears of
rent, or costs, expenses, losses or damages sustained by the landlord as a result of
any breach of the tenancy by the tenant.
(6)
In this
section—
2 months’ rent
(
2個月租金
), in relation to a tenancy, means 2 times the amount of the
monthly rent payable at the commencement of the tenancy.