Prince Edward Island landlords can ask for a security deposit of up to one month's rent. Work out the limit for your rent and the interest owed.
Largest total deposit allowed
$1,800.00
The most a landlord can ask for is $1,800.00. At the 2026 rate of 2.75%, a year of interest on it is $49.50.
| Deposit limit | Up to one month's rent, or one week's rent if rent is paid weekly. Only one deposit per tenancy, taken when the agreement is signed. |
|---|---|
| Pet deposits | A landlord cannot take any deposit other than the one security deposit, so there is no separate pet deposit. |
| Interest | The Rental Office publishes the rate each year: 2.75% for 2026 and 2.5% for 2025. Interest is simple, counted by the day at each year's rate, and paid when the deposit is returned. |
| Returning the deposit | Within 15 days after the tenancy ends, the landlord returns the deposit with interest or applies to the Director to keep some of it. Missing the deadline means paying the tenant double. |
| Disputes | Rental Office (Office of the Director of Residential Tenancy) |
The calculator multiplies the monthly rent by the fraction of a month the province allows and rounds down to the cent. It then shows one year of interest at the 2026 rate.
Largest security deposit = monthly rent x 1, rounded down to the centOne year of interest = total deposit x 2.75 / 100Say the rent is $1,800 a month.
| Step | How | Result |
|---|---|---|
| Security deposit | $1,800 x 1 | $1,800.00 |
| Largest total deposit | Same as above | $1,800.00 |
| One year of interest | $1,800.00 x 2.75 / 100 | $49.50 |
The most a landlord can ask for is $1,800.00. At the 2026 rate of 2.75%, a year of interest on it is $49.50.
This page explains the general rules for private rentals and is not legal advice. Rules differ for some kinds of housing, and they change. For a specific situation, check with the Rental Office (Office of the Director of Residential Tenancy).
Checked against these official sources on September 27, 2026:
Up to one month's rent, or one week's rent if rent is paid weekly. Only one deposit per tenancy, taken when the agreement is signed.
A landlord cannot take any deposit other than the one security deposit, so there is no separate pet deposit.
The Rental Office publishes the rate each year: 2.75% for 2026 and 2.5% for 2025. Interest is simple, counted by the day at each year's rate, and paid when the deposit is returned.
Within 15 days after the tenancy ends, the landlord returns the deposit with interest or applies to the Director to keep some of it. Missing the deadline means paying the tenant double.
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