Tenants in New Brunswick often wonder whether a security deposit should earn interest and how to claim it. This guide explains the basic rules for renters, how to document your claim, and what to expect when you ask a landlord for interest on a deposit. It also points to the provincial tribunal and Official forms you may need if a dispute arises. If you are preparing to move, or simply want to know your rights as a renter in New Brunswick, these clear steps and resources will help you act confidently and meet required deadlines.
How security deposits are treated in New Brunswick
Under New Brunswick tenancy rules, security deposits are intended to cover unpaid rent or damage beyond normal wear and tear. Whether a landlord must pay interest on that deposit depends on the wording of the province's Residential Tenancies Act and any regulations or tribunal decisions that apply to your situation [2][1]. Keep clear records of payments and any agreement about interest so you can show the tribunal or landlord the full picture if needed.
Do landlords have to pay interest on security deposits?
In some provinces the law requires landlords to hold deposits in trust and pay interest at a prescribed rate, but the exact obligation and the rate can differ by jurisdiction. In New Brunswick the Residential Tenancies Act and tribunal rulings determine whether interest is payable and how it is calculated. If your lease or a provincial regulation promises interest, the landlord must follow that requirement; otherwise the tribunal will consider what is fair in the circumstances [2].
For a plain explanation of basic deposit rules, see Understanding Rental Deposits: What Tenants Need to Know for common scenarios and examples. If you plan to ask for interest when moving out, the step-by-step guidance in How to Get Your Security Deposit Back with Interest When Moving Out can help you prepare your request.
Common reasons tenants receive interest
- When legislation or a regulation explicitly requires interest to be paid on security deposits.
- When a written rental agreement promises interest and the landlord agreed to those terms.
- When a tribunal orders repayment of a deposit plus interest after a hearing about improper deductions.
What to do if your landlord refuses to pay interest
Start by asking the landlord in writing for the deposit plus any interest you believe is owed. If that doesn't resolve the issue, you can apply to the Residential Tenancies Tribunal for a decision. Before you apply, gather your lease, receipts, photographs, and a short timeline of communications so the tribunal can quickly understand your claim [1].
How-To
- Gather documents: copy your lease, deposit receipt, payment records, photos of the unit, and any written messages about the deposit.
- Send a written request to the landlord asking for the deposit plus interest, state the amount you expect, and give a reasonable deadline to respond.
- If the landlord refuses or does not reply, apply to the Residential Tenancies Tribunal and include your evidence and the written request as attachments.
- Attend the hearing prepared to explain your claim; bring originals and copies of all documents in case the tribunal requests them.
FAQ
- Do landlords in New Brunswick always pay interest on deposits?
- Not always. Whether interest is owed depends on the Residential Tenancies Act, any applicable regulation, and what the lease or tribunal orders. Check the law and your lease for specific obligations.
- How much interest should I expect?
- If interest is required, it is usually set by regulation or by tribunal order; the rate may be different from bank interest and can change over time.
- How do I make a claim for interest?
- Request the amount in writing from your landlord first. If unresolved, apply to the Residential Tenancies Tribunal with copies of your lease, receipts, and communication records.
Help and Support / Resources
- Residential Tenancies Tribunal - Service New Brunswick
- Residential Tenancies Act (Government of New Brunswick)
- Forms and applications for tenancy disputes - Service New Brunswick
- [1] Residential Tenancies Tribunal - Service New Brunswick
- [2] Residential Tenancies Act - Government of New Brunswick
- [3] Tenancy forms and applications - Service New Brunswick
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