Tuesday, May 17, 2016

Reblog of Devin Mylrea's article "Prepaid Rent or Security Deposit?"

Devin Mylrea has written an excellent summary of a recent Court of Queen's Bench decision relating to priority over monies paid by the tenant and held by a landlord:


Landlords should be careful to ensure that money held by the Landlord is clearly characterized as prepaid rent and not as a security deposit.  Otherwise Landlords run the risk that secured parties will take priority over funds that would otherwise be used by landlords and applied against rent.