The landlord holds this money until the tenant moves out. A security deposit can't be more than one-half of the first month's rent. A landlord must give a tenant a receipt for a security deposit. A tenancy agreement is sometimes called a lease. It is an agreement between a landlord and a tenant to rent.
Some tenancy agreements are in writing, others are oral.
A written tenancy agreement will also show the term of the tenancy. When a tenant doesn't pay their rent, a landlord can give them a notice to move. The landlord can give this notice when the tenant is more than three days late paying the rent. If the tenant doesn't move or pay the rent, the landlord can ask the Residential Tenancies Branch to order the tenant to move. This is called an Application for an Order of Possession.