Ontario’s Standard Lease Arrives
If you’re a landlord or a tenant in Ontario, April 30th, 2018 was a momentous day so we thought we’d take the opportunity to acknowledge it by writing this post.
Welcome to the world, Ontario’s Standard Lease.
Ontario’s Standard Lease arrived weighing 14 pages including 6 pages of appendices. With a structured build and clear-eyed wording, the Standardized Lease will surely be adopted by all landlords upon a tenant’s request when entering a lease from this day forward (otherwise there are provisions for withholding rent or terminating the lease early).
An ernest document, the Standard Lease has a bright future clarifying what is and isn’t okay as per the Residential Tenancies Act, 2006. Incorrectly presumed by some as a villain and by others as a hero, it is neither. Rather, its purpose in life will be to outline the basic rules of a tenancy for both parties. While it does inherit power from the RTA it does not have enough power to change the laws.
We’ve already had a good look at this fresh new arrival and are willing to share photos (pdfs), insights and assistance in bringing this new arrival into your life as a landlord if need be.
For all the up-to-date details, visit the Ministry of Housing info page.
To download your very own Ontario Standard Lease, click here.