Joy Lusher Real Estate Ltd.
Upon signing a lease, the Tenant will be required to pay a deposit in the equivalent amount of one month’s rent, plus 50% of the relatively nominal applicable Stamp Duty*; the cost of Stamp Duty is shared equally with the Landlord.
*The amount of Stamp Duty varies depending upon the rent level and ranges from $75 - $425.
The deposit will be deemed a holding deposit until commencement of the lease at which time it becomes a damage/breakage deposit. Upon termination of the lease, you must return the property in like order and condition as at the commencement of the lease. You will be required to make good any damages or breakages at the premises. The Landlord is not limited to the deposit amount in seeking restitution.
The deposit will be returned to you in full after the property inspection proves acceptable to the Landlord. It is important that you consider taking photographic evidence of the condition of the property upon commencement of the lease and for you to ensure that the inventory list is accurate.
Rent is due on the first day of each month. The deposit may not be applied to cover the final month’s rent!