Top 10 You Should Know as a Landlord or a Tenant

First of all, I am a licensed realtor and Chartered Professional Accountant. But I am not a lawyer. It is NOT intended as legal advice.

1. The tenant does not have to move out at the end of the term;
2. The tenant can’t be required to pay rent by post-dated cheques or automatic payments, but can choose to do so;
3. Rent deposit cannot be more than one month’s rent. And Rent deposit can not be used as damage deposit;
4. The key deposit cannot be more than the actual replacement cost;
5. The landlord can increase the rent only once every 12 months with at least 90 days’ notice;
6. The landlord must keep the rental unit in good repair and comply with all health, safety and maintenance standards;
7. The landlord must ensure that a rental unit has heating equipment capable of maintaining a minimum temperature of 20 celsius from Sep 1 to Jun 15;
8. The tenant may end a tenancy by giving at least 60 days’ notice if they have a monthly tenancy;
9. The landlord may end a tenancy if
   1. A buyer/landlord or immediate family members of the buyer/landlord moving in (with 60 days’ notice);
   2. Change of use ( from residential to commercial) (with 120 days notice);
   3. Serious renovations;
10. Any additional contract or terms can’t take away a right or responsibility under the Residential Tenancies Act, 2006;

Residential Tenancy Agreement (Standard Form of Lease) http://www.forms.ssb.gov.on.ca/mbs/ss…https://www.youtube.com/watch?v=Mx3AwF-TZ_w