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November, 2008

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Rental Agreements - What You Should Know Before you Sign a Lease

 

 

When you rent a home or apartment in Canada, the landlord will usually

ask you to sign a written rental agreement. This legal contract is also

often called a "lease."

 

Under the laws of each province and territory, tenants and landlords have

certain rights and responsibilities whether they have a written agreement

or not. Nevertheless, a written lease agreement can help spell out all

the terms you and your landlord want to have covered and agreed to. You

may also wish to seek legal advice before accepting the terms.

 

To help you know what to expect, Canada Mortgage and Housing Corporation

(CMHC) offers the following list of terms that can be found in most

rental agreements:

 

- The names of the landlord and tenant(s).

- The address of the home or apartment you are renting.

- The monthly rent you agreed to pay, with or without utilities, parking,

  cable television or other services.

- The date when the rent is due (for example, on the first day of each

  month).

- The amount and terms of any rent, security or damage deposits you agreed   to pay.

- A list of which repairs or upkeep will be your responsibility.

- The term of rental period (most rental agreements are usually for one

  year, but some may be month-to-month or week-to-week).

- The conditions for ending or canceling your lease, including financial

  implications and the amount of advance notice you must give the landlord   if you decide to move out (for example, 60 days notice).

- The rules or restrictions for subletting the property.

- The amount the landlord is allowed to increase the rent in the future.

- Any other specific restrictions (such as whether or not you can smoke in

  the home and whether you can have boarders, pets or a waterbed, etc.).

- Details on when and how the landlord can enter your home or apartment.

- The procedure for making changes to the contract.

- A method for resolving any disputes or disagreements (for example,

  disputes about late rent payments, damage to the property or eviction).

- Contact information for both you and your landlord in case of an

  emergency (usually including a phone number, fax and email).

 

For more information or a free copy of CMHC’s Guide to Renting a Home or other information on owning, maintaining or renovating your home, call

CMHC at 1-800-668-2642 or visit our website at www.cmhc.ca. For more than 60 years, Canada Mortgage and Housing Corporation (CMHC) has been Canada’s national housing agency and a source of objective, reliable housing expertise.