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How to Save Commercial Lease Warning Notice

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This video tutorial provides an overview of commercial leases, focusing on essential lease structures, important clauses, and common delivery conditions. While you won't learn everything about commercial leases, the content will equip you with enough knowledge to navigate the basics. It introduces various lease structures, particularly the triple net (NNN) lease, which is among the most prevalent. In a triple net lease, tenants pay base rent as well as three additional expenses: property taxes, building insurance, and common area maintenance. This means tenants are responsible for all property-related costs, while the landlord typically handles structural repairs.

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Got questions?

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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Which situation below is the best example of violating an apartment lease?

Option 2 is the correct answer. As not paying rent is considered a violation of the legally binding document signed between landlord and tenant.

Can my landlord increase my commercial rent?

Know your rights. It is not unreasonable for a landlord to increase rent at the end of a tenancy. The amount could reflect inflation, a rise in property values, local demand for space or historically low rent being brought in line with surrounding properties.

What happens if I dont give 60 days notice Ontario?

If you dont, the tenancy continues. Fixed-term: If you have a fixed-term tenancy, like a one year lease, then you must give notice at least 60 days before the end of the lease. The termination date cannot be before the last day of the fixed term. If you dont give notice, the tenancy continues.

What is the penalty for breaking a lease in Ontario?

One year is most typical. If you break the lease, youre breaking a contract, and the landlord can hold you responsible for paying the rent until the end of your lease term. For example, if you pay $1,800 a month and want to break your lease for the last four months, you could end up on the hook for $7,200.

How much notice is required to evict a tenant in Ontario?

If you rent by the month or by any longer period, your landlord must give you at least 60 days written notice. If you pay by the week or day, your landlord must give you at least 28 days written notice. The notice should be on a form called Notice to End your Tenancy at the End of the Term (Form N8).

What is the most common type of lease?

1. Single Net Lease. A net lease is perhaps the most common form of commercial lease agreement. With a net lease, the tenant is responsible for a base rent payment, plus additional expenses associated with the property.

What are my rights as a tenant in Alberta?

A tenant cannot withhold rent in Alberta for reasons such as a landlord has not made repairs to the rental property. If they do, the tenant is at risk of a landlord issuing a 14-day Notice to Terminate on the grounds of failure to pay rent. Instead, the tenant should apply to the RTDRS to resolve the situation.

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.

What is the commercial rent increase for 2023 Ontario?

The rent increase guideline for 2023 is 2.5%. The guideline is based on the Ontario Consumer Price Index, a measure of inflation calculated monthly by Statistics Canada that reflects economic conditions over a 12-month period (June to May).

Do you have to give 30 or 60 days notice Ontario?

Can I give 30 days notice in Ontario? No. In Ontario, you must provide the landlord with a written notice to terminate the tenancy at least 60 days before the last day of a rental period.

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