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The Ontario standard lease agreement does not replace the OREA agreement to lease; rather, they serve different purposes. The OREA standard residential agreement to lease is essentially an offer to lease, outlining basic terms for entering into a lease agreement. In contrast, the Ontario standard lease agreement is the final lease document that details the complete terms of the lease. This is similar to the commercial real estate process, where an offer to lease (OTL) is negotiated and finalized into a standard lease agreement. The OREA document is like an initial draft, while the Ontario standard lease agreement provides the comprehensive terms of the rental contract.