Deposits: the rules in the Rental Housing Act
3 min read · Updated 12 October 2026
The deposit belongs to the tenant until it’s used for something the lease allows. The owner must keep it in an interest-bearing account, and the interest goes to the tenant. The tenant can ask for proof of the interest earned.
When it must be paid back. Within 7 days after the lease ends if there’s nothing to deduct. Within 14 days of the repairs being finished if there are deductions, with receipts. Within 21 days if the tenant didn’t come to the outgoing inspection.
In Porchlight: the deposit tracker adds interest each month and starts the refund countdown on move-out day.
General information, not legal or tax advice. For your situation, speak to an attorney or a tax practitioner.