Looking for a new apartment in Ontario? You`ll need to sign a rental agreement form! Here`s what you need to know about Ontario apartment rental agreement forms:
First and foremost, let`s define what a rental agreement form is. A rental agreement, also known as a lease agreement, is a legal contract between a landlord and a tenant that outlines the terms and conditions of renting a property. Rental agreements generally include details such as the rent amount, payment due date, security deposit, and length of the lease.
In Ontario, rental agreements are governed by the Residential Tenancies Act (RTA). The RTA sets out rules and regulations for landlords and tenants to follow and provides protections for both parties.
When it comes to filling out the rental agreement form, there are a few key pieces of information you`ll need to include. These include:
– Names and contact information: The full names and contact information for both the landlord and the tenant should be included.
– Rental property address: The complete address of the rental property must be listed.
– Rent amount and payment details: The rental amount and payment due date should be specified, as well as any late payment fees and accepted methods of payment.
– Length of the lease: The start and end date of the lease should be clearly stated.
– Security deposit: The amount of the security deposit, as well as the terms of its return, should be included.
– Rules and regulations: Any rules or regulations of the rental property, such as noise restrictions or pet policies, should be outlined in the rental agreement.
It`s important to note that as of April 30, 2018, all new rental agreements in Ontario must use the standardized lease agreement form provided by the Ministry of Housing. This form includes all of the necessary information outlined above as well as additional clauses required by the RTA.
While the standardized form is not mandatory for existing tenants, it is recommended that landlords and tenants use it to ensure that all necessary information is included and to avoid any confusion or disputes down the line.
In conclusion, when renting an apartment in Ontario, it`s important to have a rental agreement form in place to protect both the landlord and the tenant. Make sure to include all necessary information and consider using the standardized lease agreement form provided by the Ministry of Housing. Happy apartment hunting!