Ontario has introduced a new standardized lease template that will be mandatory for most private residential rental units to use as of April 30th, 2018. It is hoped that the standard lease will provide increased clarity between landlords and tenants when it comes to lease agreements. With the large number of private rentals in Ontario and the high number of turnovers that take place each month, it is also hoped that the new standard lease will help to strengthen the level of protection and security that tenants feel. Relocating employees will also benefit from the increased levels of comfort when searching for rental properties and establishing lease agreements in new destinations.
It has been noted that a standardized form for lease agreements between landlords and tenants in Ontario has not been present up to this point. This has resulted in a number of lease agreements being created by landlords that include illegal clauses, often resulting in confusion and misunderstanding and in many cases, disputes between landlords and tenants. With the low number of vacancies and lack of affordable housing, tenants are not able to work around the lease agreements or come to terms with landlords before signing, which often leads to additional problems in the future of the lease. Peter Milczyn, Minister of Housing and Minister Responsible for the Poverty Reduction Strategy stated, “Renters told us their leases were often confusing and contained illegal terms. Landlords, especially smaller ones, say a standard template makes it easier for them to do business. The new form helps balance the interests and responsibilities of both parties.”
The new standardized lease form will feature language that is clear and easy to understand, the rights and responsibilities that both the tenant and landlord have, and lists what terms can or cannot be included in a lease agreement. In addition, a guidebook will also be used to support the implementation of the new lease, clarifying information on rent, contact information, deposits and utilities for both the renter and landlord. The guidebook will provide additional clarity to both tenants and landlords as to what is acceptable and any terms that are considered illegal.
Based on our twenty years of experience in employee relocations, Welcomehome’s team of relocation consultants understand the importance of ensuring that relocating employees feel comfortable and confident in moving and transitioning to new destinations. Relocating employees can rest assured that our Relocation Specialists will, as always, ensure that the individual needs of the employee and his/her family are addressed and reflected in the lease agreement. The new standardized lease will be helpful in establishing a positive relocation experience for the employee and his/her family.
For more details on Ontario’s standard lease, and to view the standard lease template, review the information included at the following link: http://www.mah.gov.on.ca/Page18704.aspx