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Posted on March 4, 2022 in

Ontario Real Estate Agreement to Lease

by Root

Are you looking to rent a property in Ontario, Canada? If so, it`s important to understand the legal agreement you`ll be signing – the Ontario Real Estate Agreement to Lease.

The Ontario Real Estate Agreement to Lease outlines the terms and conditions of renting a property in Ontario. It`s a legally binding agreement between the landlord and tenant that covers everything from rent payments, maintenance responsibilities, and length of tenancy.

Before signing the agreement, it`s important to carefully read and understand all the terms and conditions. Here are a few key points to keep in mind:

Rent payments: The agreement will specify the amount of rent, due date(s) and the method of payment, such as check, cash or electronic transfer.

Security deposit: Typically, a security deposit is required and must be paid prior to moving in. It`s important to understand the conditions under which the deposit will be returned at the end of the tenancy.

Maintenance: The agreement outlines who is responsible for maintenance and repair of the property. Landlords are generally responsible for major repairs, while tenants are responsible for minor repairs and upkeep.

Length of tenancy: The agreement will specify the start and end date of the tenancy, as well as any renewal options.

Termination: The agreement will outline the conditions under which either party can terminate the lease, such as non-payment of rent or violation of the terms of the agreement.

It`s important to note that the Ontario Real Estate Agreement to Lease is a standardized document and cannot be altered by either party. However, additional terms may be added as an addendum.

In conclusion, renting a property in Ontario is a significant transaction that requires careful consideration and attention to detail. Understanding the Ontario Real Estate Agreement to Lease is an important step in ensuring a smooth and successful tenancy. As always, consult with a legal professional if you have any questions or concerns.


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