All landlords who rent in Ontario should be aware that the province has introduced a new standard leasing method that is to be used for written leases in Ontario that will be concluded on April 30, 2018 and beyond. Please terminate the use of your current rental or rental agreement and obtain a copy of the standard contract issued by the Ministry of Housing. Unfortunately, the form contains only basic leasing provisions. Fortunately, page 15 (Additional Conditions) of the form can add additional conditions to the form. No rights or liabilities under the Residential Tenancies Act of 2006 (the “RTA”) can remove any addition to the basic rental report. Additional conditions are recommended for condominiums because the interaction between the Condominium Act of 1998 (the “law”) that defines the condominium regime and the RTA, which governs rental units in residential buildings, is not always obvious. Homeowners who rent their apartments should consider whether the basic rental contract is extended to a wide range of protections, since the ATR is geared towards tenant protection. Condo companies would also be advised to add additional conditions to the form if they lease the superintendent`s suite. The tenant and landlord must keep a copy of the signed contract for their registrations. Rent-to-own (sometimes called a buy-to-let option) is when a landlord offers tenants the opportunity to acquire the rental property.
Legal Advice With the new binding form of the housing lease, the government`s objective is to normalize a sector that, in the past, was overtaken by litigation. While the form, with its clear language, is undoubtedly focused on protecting tenants, landlords (which may include both condominium owners and condo companies) would be wise to consider additional protections. If so, you will receive legal advice. Owners who use LawDepot`s rent have the option to choose a standard or full contract. A comprehensive agreement offers more options and legal protection than a standard agreement. The Ontario lease must contain the following data: The main purpose of this contract is to determine the terms of the rent; The sum of the monthly rent The terms and conditions for payment of supply fees; maintenance conditions for the devices, etc.