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New Standard Lease in Ontario

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New Standard Lease in Ontario

Date: 02/22/2018 | Source: http://www.mondaq.com

If you own a rental property - pay attention! According to Mondaq, "Starting April 30, 2018, landlords and tenants entering into private residential leases must use Ontario's new standard form of lease.

The standard form is intended to simplify the rental agreement process in Ontario. It is written in easy-to-understand language and sets out the basic terms of a lease—including the amount of rent and how it can be increased, the sorts of lawful conditions a landlord can impose upon a tenancy, and some of the grounds on which the lease can be terminated by either party."

For more information about the specifics, click the link!

Hold The Legalese! Ontario Has A New Standard Residential Lease

Starting April 30, 2018, landlords and tenants entering into private residential leases must use Ontario's new standard form of lease. The standard form is intended to simplify the rental agreement process in Ontario. It is written in easy-to-understand language and sets out the basic terms of a lease—including the amount of rent and how it can be increased, the sorts of lawful conditions a landlord can impose upon a tenancy, and some of the grounds on which the lease can be terminated by either party. The standard form contemplates an attachment for additional terms that address specific issues, as long as...

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