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How to Make Modifiable Commercial Lease Notice

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In this video tutorial on commercial leases, viewers will learn about essential terminology and concepts without needing to master every detail. Key areas covered include common lease structures, important lease clauses, and typical delivery conditions. The focus is on various lease structures, such as the triple net lease, which is prevalent in commercial real estate. In a triple net lease, tenants pay base rent plus property taxes, building insurance, and common area maintenance, taking on all expenses related to the property. By the end of the video, viewers will have a foundational understanding of commercial leases to navigate the terminology effectively.

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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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Can you amend a lease agreement in Ontario?

During a lease term, both the landlord and tenant can propose amendments, provided theyre familiar with any rules in the Lease Agreement about changing the lease. Once both parties have agreed to the changes, they can be formalized with a Lease Amendment.

Can a landlord raise rent if another person moves in Ontario?

Karen Andrews, a staff lawyer at the Advocacy Centre for Tenants Ontario (ACTO), says raising the rent when a new roommate moves in or barring a tenant from getting a roommate is against the law.

How much notice does a landlord have to give when selling the property 2022?

If you dont have a break clause in your contract or youve already passed it, the landlord can serve you notice two months before your tenancy is due to come to an end.

How much notice do I have to give my tenants if I want to sell?

How much notice do I need to give my tenants that I am selling the property? You must give your tenants notice, in writing, if you want them to vacate the property and on what date. The notice period you give them must be a minimum of 6 months.

What is the commercial rent increase for 2022 Ontario?

In Ontario, rent increases are governed by strict guidelines set by the provinces LTB. For 2022, this amount was fixed at a maximum of 1.2%, and for 2023 the maximum was 2.5%.

How much notice do you need to give a tenant when selling in Ontario?

You can only give them a notice to terminate once you have signed an Agreement of Purchase and Sale and the purchaser plans to live in the house. At that point you would serve the tenants with a 60 days notice on a Form N12. The notice period for this reason is still 60 days even if they are weekly tenants.

What rights do tenants have when the house is being sold Ontario?

A landlord cannot evict a tenant purely because a property is sold. However, if there is no fixed-term lease, the purchaser can issue a 60-day notice before being allowed to kick a tenant out. Please note that these are not considered derogatory evictions and do not reflect badly on the tenant in any way.

How much notice does a landlord have to give when selling the property in Ontario?

-When your landlord is selling whether youre at the end of your first year of lease or if your on a month-to-month lease, the answer remains the same. When selling a tenanted property in Ontario the landlord must give 60 days notice from the first of the month.

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Make Modifiable Commercial Lease Notice