Ontario Standard Lease Agreement
Before renting an apartment or house, both the owner and the tenant want to protect themselves with a document favorable to the law. This is achieved through a housing rental agreement. This agreement is between the landlord and the Tenant(s) in Ontario. It is signed by both parties. The Residential Tenancy Act (RTA) defines the rights and obligations of tenants and landlords and sets the framework for everything related to the tenancy process, including rents, dispute resolution, sureties, lease term and more. The RTA requires landlords and tenants to sign a formal lease that sets out the details of the lease and protects both parties in the event of a dispute. If both parties sign the lease, it is kept for the duration of the rent for the personal minutes of each party. As of April 30, 2018, most tenants – whether they are a home management company or a single owner – must use Ontario`s standard housing. Once signed, this document binds tenants and landlords in a contract called a residential lease agreement. If the lessor does not provide the standard rental agreement within 21 days of the tenant`s written request, the tenant may terminate 60 days in advance to prematurely terminate an annual or temporary rental agreement. If the lessor does not provide the standard rental agreement within 30 days of the start of the tenant`s withholding of rent, the tenant is not required to repay the rent for one month. Please note that you cannot withhold more than one month`s rent and you must continue to pay your rent for the duration of your lease, even if your landlord never gives you the standard rental agreement.