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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, the Ontario standard lease, effective since April 2018, provides a standardized form for tenant-landlord agreements. This standardization simplifies the process for both parties, ensuring that tenants can rely on a valid agreement while landlords are constrained from writing arbitrary terms. The lease outlines specific steps and required information, making it straightforward to complete. However, complexities may arise in certain areas of the agreement, indicating that while the process is generally simple, there are nuances to be aware of.