Who needs a Residential Tenancy Agreement?
Before renting a flat or house, both the landlord and the tenant want to secure themselves with a legal document. This goal is achieved with the help of a Residential Tenancy Agreement. This agreement is concluded between the landlord and the tenant(s) in Ontario. It’s signed by both parties.
What is the purpose of the Ontario Residential Agreement?
The main purpose of this contract is to determine the terms of the rent; the sum of the monthly rental payment; the terms of the utilities payment; the terms of the appliances maintenance, etc. The agreement is very important in case any disputes arise.
What documents usually accompany the Ontario Residential Tenancy Agreement?
If the landlord and the tenants have concluded other agreements or undertakings, these documents must be attached.
How long does it take to fill out the Ontario Tenancy Agreement form?
The approximate time for completing this agreement is 30 minutes.
What information should be given in the Residential Tenancy Agreement?
The Ontario lease agreement must contain the following data:
- Date of conclusion the agreement
- Name of the landlord
- Name of the tenant(s)
- Address of the apartment (house)
- Type of the rental premises
- Date of the beginning of the tenancy
- Initials of the Landlord and the Tenant
- Sum of the rental payment
- Date of payment
- Person who acts on behalf the Landlord
- Terms of payment for utilities (by the landlord or by the tenant)
- Terms of the maintenance of appliances
- Sum of the prepayment of the last month’s rent
- Sum of the security deposit
The agreement must be signed by the landlord and the tenant.
What do I do with the agreement after its completion?
When both parties sign the tenancy agreement, it she be kept for each party’s personal record for the term of the rent.