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How to Correct Rental Lease Contract

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In this video tutorial, the host emphasizes the importance of having a comprehensive rental lease agreement to avoid future problems. They introduce five critical lease clauses that every landlord should include to protect themselves. The speaker, Sue Ricci, co-founder of Ricci Property Management, stresses the need to regularly review and update rental leases, ideally every year or two. Viewers are encouraged to subscribe and stay tuned for weekly tips on effective property management.

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Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

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What are the rules for fixed term tenancy?

A fixed-term tenancy agreement lasts for a set amount of time eg, 1 year. There is no maximum length for a fixed-term tenancy. You must include the length on the tenancy agreement. You cant give notice to end a fixed-term tenancy early.

What are the 5 most common lease violations?

6 Common Lease Violations Habitual Late Payment of Rent. Emphasis on habitual! Noise Violations. Long-Term Guests. Unauthorized Pets (or violation of pet policy) Unauthorized Renovations and/or Decor. Unsanitary Conditions. Damage to the Property. Illegal Activities.

Are rental leases legal in BC?

Although the RTA requires landlords to prepare tenancy agreements in writing, it also says that a tenancy agreement can be oral, express or implied. This means that you and your landlord do not have to sign an agreement to establish a legal tenancy in BC.

Can you still have a fixed term tenancy?

If the tenant would prefer to continue with a fixed-term tenancy this is possible, but they must give 20 days notice before the fixed term expires.

Can you break a fixed term lease in BC?

Under section 45.1 of the Residential Tenancy Act, a tenant may give one months notice to end a fixed-term tenancy early without financial penalty when fleeing family or household violence or when the tenant has been assessed as requiring long-term care or has been accepted into a long-term care facility.

Can landlord change terms of lease in Ontario?

The landlord and tenant can also agree to renew the tenancy agreement for another fixed term period, or enter into a new lease. If the landlord and tenant agree to enter into a new lease, the terms of the lease can only be changed in ance with the Act.

Are fixed term leases legal in BC?

A fixed-term tenancy cannot be ended earlier than the date fixed except in three circumstances: both parties agree in writing using a Mutual Agreement to End Tenancy (PDF, 1.6MB) -- both parties need to sign the document and keep a copy.

What should I watch out for in a lease?

Here are things to look out for when signing a lease. Rent Amount and Due Date. Make sure the lease matches the rent you expect to pay. Terminating and Renewing. Many times a lease simply ends on the date stated in the lease. Guests. Subletting. Maintenance Responsibilities. Pets. Renters Insurance.

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Correct Rental Lease Contract