1. When renting why do I have to pay a security bond?

A security bond is usually four weeks’ rent if the rent amount is $250 per week and under. If it is over $250 per week, then the bond is six weeks’ rent. The bond guarantees to the landlord that when you move out of the rented property, that it will be left in good condition. 

The deposit is held not by us or the landlord but a government authority – The Bonds Section of the Tenancy Branch of Consumer and Business Services.

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