Are you looking to rent a property in Ontario, Canada? If so, you will need to sign a rental lease agreement before you move in. The Ontario government has recently updated the rental lease agreement for 2020, and it’s important for tenants and landlords to understand the changes.
One of the most significant changes to the rental lease agreement in Ontario for 2020 is the addition of mandatory language. Landlords are now required to include certain clauses in their agreements, such as rules around smoking and pets. This will help to ensure that tenants are aware of their rights and responsibilities before signing the lease.
Another important change to the rental lease agreement is the requirement for landlords to provide a signed copy of the agreement to tenants within 21 days of signing. This will help to ensure that tenants have a record of the terms and conditions of their rental agreement.
The new rental lease agreement also includes provisions for a rent increase, which is limited to a maximum of 2.2% for 2020. Landlords must provide at least 90 days’ notice before any rent increase can take effect.
It’s important for both landlords and tenants to read the rental lease agreement carefully and understand the terms and conditions before signing. This can help to prevent misunderstandings and disputes down the road. If you have any questions about the rental lease agreement in Ontario or need help navigating the changes for 2020, it’s a good idea to consult with a lawyer or a professional with experience in real estate law.
In summary, the rental lease agreement in Ontario for 2020 has been updated with mandatory language, requirements for a signed copy of the agreement, and provisions for a rent increase. As a tenant or landlord, it’s important to stay informed about these changes and understand your rights and responsibilities under the agreement.