Humber/Ontario Real Estate Course 1 Exam Practice

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Prepare for the Humber/Ontario Real Estate Course 1 Exam with our comprehensive quiz. Test your understanding with multiple choice questions and detailed explanations. Build confidence and knowledge for a successful exam experience!

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How should a residential landlord apply a rent deposit received from a new tenant?

Apply it to the first month's rent.
Apply it to the last month's rent.
Use it as a security deposit alongside the rent deposit.
Provide a receipt only if requested.
Withhold it without providing a receipt.
Apply it to any potential damages upon lease termination.

The correct answer is: Apply it to the last month's rent.

When a residential landlord receives a rent deposit from a new tenant, they should apply it to the last month's rent. This is the correct practice according to residential tenancy laws in Ontario. By applying the rent deposit to the last month's rent, the landlord ensures that the tenant has already paid for their final month in advance, which can help avoid any complications or disputes when the tenancy comes to an end. It also provides a level of security for the landlord in case the tenant fails to pay their rent in the final month.