Sample Lease Agreement Ontario Residential

The approximate time to conclude this agreement is 30 minutes. If the landlord and tenants have made other agreements or promises, these documents must be attached. The main purpose of this contract is to determine the terms of the rent; the sum of the monthly rent payment; the terms of payment of incidental costs; equipment maintenance conditions, etc. The agreement is very important in case of dispute. Use of the rental unit a. The tenant agrees not to use the rental unit for purposes other than a residential apartment. b. The tenant agrees that the property will NOT be used as another form of accommodation, including but not limited to AirBnB, short or long term rentals, holiday apartments or hostels. If the tenant violates this section of the rental agreement, this will result in the immediate termination of this rental agreement. Tenat further agrees that the premises will only be occupied by the tenant and members of his immediate family, as determined at the time of execution of this lease. Notice to Tenant: The tenant understands that the landlord will keep a key to the premises for the duration of the lease or an extension.

Ancillary costs: The tenant undertakes to bear the costs of the ancillary costs necessary for the premises during the term of the rental contract and any extension. The Renter further undertakes to prove to the Lessor no later than the date of possession that the Services have been transferred to the Tenant`s name. Repairs: The lessor declares and guarantees that the equipment listed in this rental agreement will be in perfect condition at the beginning of the rental period. The tenant undertakes to maintain these appliances and furniture in a state of normal cleanliness at the expense of the tenant. All repairs in the unit that are less than $25.00 are the responsibility of the tenant, for example. B by changing bulbs, fuses, filters and washing machines the material if necessary. The tenant undertakes to pay all damages intentionally caused by him and his guests. Key: The owner agrees to deliver 1 security key fob to the front door and 1 key for the standard door as well as 1 mailbox key. The tenant must return all keys to the landlord at the end of the rental period. If the tenant loses one of the keys and needs a replacement, or if the tenant loses keys and does not provide them all by the end of this rental period, the tenant agrees to pay $100.00 for the replacement.

The tenant undertakes not to change the keys/door locks at any time. The contract must be signed by the landlord and tenant. The parties to this Agreement hereby acknowledge and agree that the Depositor will place the deposit in the Depositor`s interest-bearing real estate escrow account, which earns interest in the amount of Premium Minus 2.50%, and that the Depositor will pay the Buyer all interest it earns or receives on the Deposit, provided that the amount of interest that the Depositor earns or receives on the Deposit, $150.00 or more. and the parties to this Agreement hereby acknowledge and agree that the Deposit holder has the right to withhold any interest earned or withheld on the Deposit that is less than that amount. In the event that the amount exceeds the foregoing, Buyer agrees to provide its SIN number immediately after the consolidation of this Agreement, so that the bank/brokerage can issue a T5 note at the end of the year in accordance with regulatory requirements. In the event that interest cheques are not exchanged within 6 months of issuance, the buyer hereby loses all interest earned by the broker. If both parties sign the lease, it will be kept for the duration of the lease for each party`s personal file. Before renting an apartment or house, the owner and tenant want to secure themselves with a legal document. This objective is achieved through a residential lease. This agreement is between the landlord and the tenant(s) in Ontario. It is signed by both parties.

The Ontario lease must include the following data: Maintenance/Cleaning: The tenant assumes full responsibility for damage caused by his intentional or negligent conduct or that of the persons he authorizes on the premises. The tenant also agrees to leave the premises in a clean state upon termination of the lease (excluding normal wear and tear), vacuum the floor, clean cabinets, bathroom and kitchen appliances and remove all waste and debris. At the end of the rental, the premises must be in the same condition as when they were taken over by the tenant. The Tenant agrees to allow the Landlord or his agent to show the property to potential buyers or tenants at any reasonable time after giving the Tenant at least twenty-four (24) hours in advance. .