What is a lease?
A lease is a written agreement made between a tenant and a landlord outlining the responsibilities and obligations of both. These rules and responsibilities must align with The Landlord and Tenant Board of Ontario, which is the overarching legal body mandating these rules.
What to expect from a lease agreement?
When you are ready to sign a lease agreement you will come together with your landlord, both signing the document that details the responsibilities and obligations of both landlord and tenant. This is an important legal document that should be understood by both you and your landlord—if you are having trouble understanding a lease agreement please feel to drop into our housing desk and ask us more about it.
Things you might see on a lease agreement:
- Name of the tenant(s) and landlord(s)
- Address of rental property
- Unit Possession --move in dates and starting date of the agreement
- Total cost of rent per month—what day rent is owed (usually the first of the month), what amenities are included (hydro, heat, water, cable, laundry, parking, etc)
- Repairs—what you the tenant are responsible for and what your landlord is responsible for
- The length of the lease agreement—1-year lease, month-to-month, or week-to-week
- The amount of, and criteria for the deposit—often includes last month’s rent and/or key deposit
- Rules of subletting—rules around letting others rent your apartment if you were to move out during a period of time
- Rent increases—how much rent could increase and what the allowable rates are based on the Municipal Affairs and Housing criteria
- Restrictions for the unit—no smoking, no pets, parking, no boarders, no loud parties
- Landlord entering your unit—outlines when and with how much notice a landlord must give in order to enter your unit
- Ending a lease and giving notice—ending the agreement comes with certain conditions that will be outlined in the agreement
- Resolving issues around late payment of rent, eviction, damage, repairs, etc