PEI security deposit maximum calculator

Enter your details

This calculator is for planning only. It does not file a legal document, determine valid service or establish the final legal date.

What the ceiling covers

• One security deposit is the rule. The limit is normally one rent-payment period, not one plus a key deposit.
• The landlord must provide a deposit receipt and place the deposit in the prescribed provincial interest-bearing account.
• At move-out, deposits have separate statutory retention and repayment rules; check the return planner.

Related PEI tools and forms

Worked examples and return rules

For monthly rent of $1,800, the ordinary one-rent-period ceiling is $1,800. For weekly rent of $425, the ordinary ceiling is $425. The Rental Office describes this as one security deposit; a landlord cannot simply stack another mandatory deposit on top of that amount.

At the end of the tenancy, the landlord generally has 15 days to return the deposit and applicable interest or apply to keep all or part using Form 2B. Exceptions include a genuine written agreement or an existing Director's order for an unpaid amount. Failure to follow the statutory process can lead to an order to pay double the deposit. The calculator does not determine the amount of interest, liability for damage or which form should be filed.

Records worth keeping

• Proof of payment and the landlord's receipt for the deposit.
• Move-in and move-out condition reports, photos and key-return record.
• The end date, forwarding address and any written agreement about a deduction.

The official Rental Office lists interest rates separately; check the actual years the money was held, rather than assuming there is no interest.