What is the maximum security deposit in Prince Edward Island?

Short answer

For a tenancy other than a weekly rental, PEI allows a security deposit up to one month of rent. Weekly tenancies use a one-week maximum.

The Residential Tenancy Act treats the deposit as money held in trust and restricts how it can be used.

What the rule means in practice

• Monthly or longer tenancy: up to one month of rent.
• Weekly tenancy: up to one week of rent.
• The deposit is held in trust under the Act.

Deposit rules affect how much cash a renter needs before getting the keys, but they do not replace the rest of the tenancy agreement. Rent timing, pet deposits, key deposits, inspection reports and special tenancy types can have separate rules.

Calculate the amount using your rent

Use the Prince Edward Island rental deposit calculator to convert the standard rule into a dollar amount using your actual monthly rent. You can also compare all jurisdictions in the Canada Rental Deposit Calculator.

Newcomers and no Canadian credit history

A landlord may ask for employment information, references or other evidence when evaluating an application, but a lack of Canadian credit history does not automatically erase provincial or territorial deposit rules. Before paying an unusual amount, ask what the payment is for, get the request in writing and check the current official source.

Official source

PEI — Residential Tenancy Act, section 14 →

Related CanadaStarter resources

Canada Rental Deposit Rules Index →
Rental deposit rules across Canada →
Renting without Canadian credit history →
Newcomer first-year cost calculator →

General information only, not legal advice. Residential tenancy rules can change; verify the current rule with the linked authority before paying a deposit.