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Maximum Deposit Amounts
Under the RTA, the maximum security deposit is half of one month's rent. If the tenant has a pet, the landlord may also collect a pet damage deposit - also capped at half of one month's rent. Total maximum: one full month's rent in deposits.
Tip: If rent is $2,400/month, the max security deposit is $1,200 and the max pet damage deposit is another $1,200.