Landlords may require tenants to pay a security deposit as a condition of a tenancy agreement but limits the amount of the deposit to the equivalent of one month's rent.

Landlords are prohibited from:

• requiring more than one security deposit,

• automatically keeping all or part of the deposit at the end of the tenancy, or

• increasing the deposit for the sole purpose of eviction.

Tenants are also prohibited from applying the security deposit as rent without the landlord's written consent.

The security deposit must be held in trust by the landlord for the tenant who paid it and must be invested in authorized securities or deposited in a trust account.

The landlord must pay interest on the deposit at the prescribed rate, and the deposit cannot be:

• seized,

• garnished,

• attached, or

• claimed by any person.

When a tenant vacates the rental unit, the landlord must return the security deposit within seven business days after they become aware of the vacancy, minus any deductions for damage or unpaid rent.

SK RTA s.24-32