Bold tag in a Condo Lease Agreement - Online Editor

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What is an example of an early termination clause?

Here is an example of an early termination clause: Early Termination Clause: The Tenant may terminate this Lease Agreement before the expiration date by giving the Landlord a written notice of at least 60 days and paying a termination fee equivalent to two months rent.

What is the additional rent clause in a lease?

Additional rent is any amount paid in addition to the base rent for other charges that are not covered by the base rent. Typically, these additional obligations are clearly stated in the lease agreement between the tenant and the landlord.

What are additional terms in a lease Ontario?

Additional Terms Require the landlord to make changes to the unit before the tenant moves in, and Provide rules for use of common spaces and/or amenities. These additional terms should be written in plain language and clearly set out what the landlord or tenant must or must not do to comply with the term.

What are 5 things that should be included in a lease?

The lease should include the following: The monthly rent due. What day the rent is due. The methods of acceptable payment. The allowable grace period for late payment, if any. Fees due with late payments.

Do all occupants have to be on the lease Ontario?

A landlord usually requires that everyone who is living in a rental unit be named on the lease. Landlords have the right to know how many people and who are living in the rental unit. This information is important to ensuring that: the landlord meets Minimum Housing and Health Standards and.

What makes a lease null and void Ontario?

Illegal provisions in the Residential Tenancies Act (RTA) are void, which means that they can be ignored its as if you didnt sign them. Even if your lease has illegal provisions, the legal provisions will still be valid and enforceable unless the Landlord and Tenant Board says otherwise.

What is an example of a tenancy addendum?

As an example of an addendum, here is a clause that could be added to a tenancy agreement: The landlord and tenant agree to extend the tenancy by an additional month, starting on the 1st of April 2021. The tenant shall pay the rent on the 1st of each month, as agreed in the original tenancy agreement.

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Bold tag in the Condo Lease Agreement