Adult Financial Literacy Guide | Page 26

Moving In Before moving in, walk through the rental unit and complete an inspection report with your landlord. Make sure you note the condition of the property. Do not sign the inspection report unless you agree with it. You will be responsible for any new damage, beyond regular wear and tear. Did you know? If the locks haven’t been changed between tenants, the new tenant can ask the landlord to change the locks. The landlord is required to do this and is responsible for covering any associated costs – a new tenant is not required to pay for this . Deposits Security/Damage deposit. Here are a few tips from the Residential Tenancy Branch on Security/Damage deposits.     Never pay a deposit before viewing a rental unit. The security deposit cannot be more than half the first month’s rent. A pet damage deposit must be no more than half of one month’s rent, regardless of the number of pets allowed. Deposits are not required for guide animals. If a tenant doesn't pay the security deposit within 30 days of entering into the tenancy agreement or the pet damage deposit within 30 days of it being required, the landlord may serve the tenant with a notice to end the tenancy. For more tips see: http://www2.gov.bc.ca/gov/topic.page? id=E5B468D8506740A48F8ECFB6C75B0B64&title=Deposits%20and%20Fees Photo credit teadrinker via Visualhunt.com CC BY-ND 26