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In response to a question about writing a rental contract, the speaker explains that rental contracts can vary by location. In Ontario, they use a standardized lease that was established in April 2018. This standard lease simplifies the process for both tenants and landlords by providing a valid agreement format, eliminating concerns over the validity of custom contracts. The lease outlines necessary information and is straightforward to complete. However, complexities may arise in specific areas of rental agreements beyond the standard form.