CPA · Residential Tenancies Act
Part 4 — Security Deposits
45 Interest on security deposit
the tenant interest calculated at the prescribed rate on a security
deposit consisting of money.
(2) If a security deposit consists of money, a tenant and the
tenant's landlord may agree in writing that the interest on the
security deposit shall not be paid annually and in that case the
interest shall be compounded annually and be paid to the tenant on
the expiration or termination of the tenancy.
(3) A landlord is entitled to retain any interest and profit resulting
from the investment of a security deposit in excess of the amount
of interest payable to the tenant under this section.
(4) If a landlord and tenant agree that interest is to be payable
under this section at a rate higher than the rate prescribed pursuant
to this section, subsections (1), (2) and (3) are deemed to refer to
the higher rate.