Prince Edward Island Deposit Rules (2026)
PEI caps the security deposit at one month's rent. It is held in trust and returned shortly after the tenancy, with disputes decided by IRAC.
Governing law: Residential Tenancy Act, R.S.P.E.I. (in force 2023)
Stop tracking deposit rules by hand
Proprietio handles deposit rules automatically — deadlines, notices, and state-aware lease terms built into rent collection, leases, and maintenance. One flat plan, all features included.
Not ready to talk? Get a free rental audit. This guide is general information, not legal advice.
One month maximum
The security deposit cannot exceed one month's rent.
Held in trust
The deposit is held in trust, separate from operating funds.
Return timeline
After the tenancy ends, the landlord must return the deposit or apply to IRAC to keep part of it within the statutory period.
Allowed deductions
Unpaid rent and damage beyond normal wear and tear.
Disputes
IRAC resolves deposit disputes.
Stop tracking Prince Edward Island compliance in spreadsheets
Proprietio keeps your leases, deposits, rent increases, and notices province-aware — so you stay onside with the Prince Edward Island tribunal without memorizing the Act.