A lease is a binding contract, the same as a will, mortgage, car loan, or residence contract. Here are a few things to know about a lease:
- Tenants are bound to the rental property for the length of time specified in the lease agreement.
- The lease must contain the legal name and the address of the landlord. All parties are entitled to a copy of the lease. Rent can be withheld until this information is received, at which point all rent is due.
- Oral agreements made at the time of signing supersede the written contract, but it is best to have as much as possible in writing and signed by both parties.
- Know the other people who are on the lease. Anyone signing a lease can be jointly or singly held responsible for the entire rent. Many landlords will let you sign separate leases for each bedroom.
- When leaving you must give two months written notice. It's the law.
- Lease terms:
- When you read a lease carefully, there may be terms you do not understand. Do not skip over what is unclear to you. Ask before signing anything, and review the list of terms and definitions that we have put together to help you understand the different terminology.
- A legal aid organization or your family's private attorney will be able to help you interpret anything that might be confusing to you.
- Parts of a written lease: There are seven crucial parts of a lease that usually appear at its very beginning. The first four parts listed are the minimum requirements needed to make a lease legal.
- Note: the lease document may be tedious to read, however, we encourage you to take a close look and familiarize yourself with lease information. It could save you a lot of trouble down the road!
Guide to Ontario’s standard lease for newcomers
The Government of Ontario created a guide, in multiple languages, to help landlords and tenants understand and complete the Standard Form of Lease (standard lease). It also contains helpful information about rights and responsibilities under the act.