Free Legal Tool
Calculate the annual interest owed on a last month's rent deposit — the rate is set to that year's rent increase guideline.
Estimate only — not legal advice. Confirm the current guideline rate on ontario.ca.Ontario only permits a last month's rent deposit — no separate security or damage deposits.
Interest is set at the same percentage as that year's rent increase guideline — no separate rate.
Interest is owed on each anniversary of the tenancy, or the final period when the tenancy ends.
The LMR deposit can only be applied to the last month's rent — never to damages or other arrears.
Free to use on your own website or blog — just copy the code below. Includes attribution back to Legal Solutions Law Firm.
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</p>Whether you're a landlord or tenant, our Toronto team can help you understand your rights and obligations. Get a free consultation.
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