Recently, the Ontario Government released a new standardized lease agreement for private residential leases which includes single and semi-detached houses, apartment buildings, rented condos and secondary units.
Effective April 30, 2018, all leases used by a landlord must be the new standardized lease. For any lease that is signed after this date that is not the standard lease, the tenant will have the right to ask the landlord for a standardized lease in writing. The landlord is required to provide one within 21 days of the request. If one is not provided, the tenant can withhold one month’s rent.
Flexibility is Key
When the Government announced they were creating a standardized lease, OREA worked closely with the Ministry of Housing and participated in their consultations. It was important for OREA to ensure that landlords and tenants be given some flexibility in the terms of the lease. The government responded by including “additional items” section in the standardized lease.
Impact on OREA’s Forms
OREA’s Standard Forms Committee will meet in the coming months to discuss what revisions will need to be made to the Association’s clauses and forms to accommodate this change.
For example, Form 400 – Agreement to Lease – Residential will be reviewed to ensure that any changes that are required will be made. In addition, all of OREA’s Standard Clauses related to residential leases will be reviewed for possible revisions. We will continue to keep you posted as OREA provides further updates in the coming weeks.
You can learn more about the new standard lease by visiting the Ministry of Housing’s website.