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In response to a question about writing a rental contract, the speaker explains that rental contracts vary by location, with a focus on Ontario's standard lease, effective April 2018. This standard form simplifies the agreement process for both landlords and tenants, ensuring validity and clarity. It eliminates the previous ad-hoc agreements that landlords used to create. The standard lease is straightforward, guiding users on what information to include. However, complexities may arise in certain areas that require further clarification or negotiation.