Security Deposit Interest Calculation Rules for NWT Tenants

Security deposits can represent a significant amount of money for a renter, especially when moving between homes in the Northwest Territories. NWT tenants may be entitled to interest on an eligible security deposit, in addition to the return of any balance that is not properly used for permitted deductions. The calculation can depend on the deposit amount, the period it was held, the applicable prescribed rate, and the terms of the tenancy. This guide explains how to check the rules, estimate interest, gather records, and ask the Rental Officer for help if a landlord does not return the deposit or interest. For broader background, see Understanding Rental Deposits: What Tenants Need to Know.