My roommate is moving out before the end of our lease and wants me to pay him his share of the security deposit and the interest that the landlord would have paid at the end of our lease. Do I have to pay? How is interest calculated?

No, you do not have to pay your former roommate his share if he moves out before the end of the lease. Your landlord is under no obligation to return the security deposit until you both move out.

However, if you decide to pay him his half and the interest, you can find the amount of interest you would owe by using the [interest calculator] on the Alberta Government Services website.

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March 2006 More Renting a Place to Live FAQs:

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