A rental lease or agreement is a binding contract between a tenant and a landlord. Although a verbal agreement may be as binding as a written one, most landlords prefer one in writing. A mandatory document that binds the tenant and landlord in the Residential Tenancies Act, the Lease Agreement also outlines the services provided by the landlord and the responsibilities of tenants in addition to both their obligations.
Typically rental agreements featured complex statements and legalese terms. They also contained terms that were almost illegal and clauses that enforce very specific conditions. So, to make things more straight forward, The Government of Ontario introduced the Standard Lease in 2018.
Since then, there have been some amendments to the lease and the new changes are being enforced from 1st March 2021. All rental agreements signed in Ontario from March 1, 2021 should make use of the new version of the Ontario Lease Agreement.
Download Ontario Standard Lease 2021 from here
Download from Ontario Central Forms Repository
Here are some of the important changes made to the Ontario Standard Lease
It is in the best interest of landlords to utilize the Ontario Standard Lease, though, not using it may not render the agreement void, it might hold grounds for a tenant to break their lease at any time. However, all agreements made prior to March 1, 2021 are still valid and need not be re-signed.
This article offers general information only, is current as of the date of publication, and is not intended as legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. While the information presented is believed to be factual and current, its accuracy is not guaranteed and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the author(s) as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Tenantcube Inc. or its affiliates.
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