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In response to a question about writing a rental contract, the speaker explains that rental contracts vary by location. In Ontario, a standard lease agreement came into effect in April 2018, providing a uniform contract for landlords and tenants. This standard form simplifies the process and ensures that agreements are valid, protecting both parties. The lease outlines specific information to be completed, making it straightforward for landlords and tenants to fill out. While the process is generally simple, complications can arise in particular areas of the lease, which may require further attention.