We do this because of where our paydays fall, which are generally after the first of the month but before the fifth due to employer weirdness.
This month, instead of holding the check until the fifth, they cashed it the 2nd, and it posted today, overdrawing my account.
This is convenient for both the landlord and the tenant.
The landlord will not have to hound the tenant for cheques every month and tenant will get the benefit of post-dating, namely, the landlord will be prevented from depositing all the cheques at once.
If the rent payments are monthly, the deposit cannot be more than one month’s rent.
However, it is illegal for a landlord in Ontario to demand a security deposit, for potential damages to a rental unit .
However, in practice, sometimes things do not go as smoothly.
To write a check, fill in the current date on the line in the upper right corner, the name of the recipient in the "Pay to" field, the numerical amount next to the dollar sign ($), and the written form of the same amount on the line beneath; sign the check on the bottom right line and consider adding a "memo" about the check's purpose on the lower left line.You should never agree to a requirement in your tenancy agreement if you are unsure of its effect!Disclaimer: The articles provided herein are for general information purposes only and not intended as or to be relied upon for legal advice. Due to this, many landlords have tried to use creative ways to come up with charges to get around the rule for security deposits.However, the Ontario Residential Tenancies Act prohibits any other additional charges . However, it cannot be more than half the one month’s rent.