As of April 30, 2018, the Province of Ontario requires all new tenancies to be defined by the “Residential Tenancy Agreement (Standard Form of Lease)”. This document, published by the Ministry of Housing and governed by Ontario’s Landlord and Tenant Board, aims to make tenancies simpler to understand and manage for both Tenants and Landlords.
Of note in the new standard lease are clear references to Tenant and Landlord rights regarding:
- the Lease Term and the right to continue in a month-to-month lease at the end of a Lease Term (Section 4. Term of Tenancy Agreement),
- Landlord entry to the Rental Unit (Appendix, Section N.),
- Ending the Tenancy (Appendix, Section D.), and
- the Tenant’s right to install decorative items such as pictures or window coverings (Section 12. Changes to the Rental Unit).
The new Standard Lease also allows for Additional Terms and TLR leases include a robust set of Terms to cover items such as:
- payment of rent,
- tenant insurance,
- use of the rental unit,
- cleaning and maintenance of the rental unit,
- responding to hazards, and
- other items not sufficiently addressed in the standard Residential Tenancy Agreement.
Leases in place for your rental property in Toronto ahead of April 30, 2018 deadline will still be valid and enforceable. While all leases created from April 30, 2018 must use the standard Residential Tenancy Agreement, or face penalties for failing to do so.
If you have any questions about the Province of Ontario’s new standard form of lease or anything pertaining to Toronto property management, please contact us at Toronto Luxury Rentals.