Fixed Term Rental Agreement VS. Month-to-Month

In British Columbia, there are two main types of Tenancy Agreements. We’ll take a look at some of the similarities and differences between them and explain why one agreement may suit your situation better than the other. Similarities Between Fixed Term and Month-to-Month Agreements Typically, rent is due on the 1st day of each month, unless otherwise agreed upon in writing. Security deposits. In B.C., security deposits cannot exceed one half month rent. The deposit is payable before the Tenancy begins. Likewise, Pet Damage Deposits, if applicable, cannot be more than half a month rent. Whether or not they are permitted,…

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