As many of you are aware, when renting a accommodations, there are always a rental agreement you have to sign.
The landlord will ask you to sign a rental agreement, or as it is more commonly known as, a lease.
Although the term lease is used, it is just one form of a rental agreement.
In this section you will learn about the rental agreement, which can be a written lease or a verbal agreement.
Rental agreements are governed by landlord and tenant law specific to the province or territory where you are renting the accommodation. There are many similarities that exist from jurisdiction to jurisdiction, but each province and territory does have their own legislation.
The rental conditions that tend to be unique for a specific province or territory are:
• Collecting and returning deposits
• Requiring post-dated cheques
• Changing locks
• Permitting landlord entry to the premises
• Managing sublets and assignments
• Rent increases
• Renewing and terminating leases
• Withholding rent for repairs
• Giving notice
• Hot to handle disputes, such as late rent payments and eviction
• Allowance of pets and/or smoking
This is only the first part of this section, the next part will cover the rental agreement in writing and what you can expect.
Jeff Markewich
Broker of Record with InfoMarket Group GMAC Real Estate
www.imgrealestate.ca
