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The end of a fixed term tenancy or lease does not mean that the tenant has to move out or sign a renewal or new lease in order to stay. The lease is renewed automatically on a month-to-month basis (if the rent is paid monthly) or week-to-week basis (if rent is paid weekly).
The answer lies in the Registration Act, 1908. According to this Act, it is mandatory to register a rent/lease agreement if the rental period is more than 12 months.
Can I change my mind? Yes, after you sign an agreement you have 5 days to cancel it. If you want to cancel your agreement, you must tell your landlord this in writing within 5 days. If the 5 days have passed and you want to cancel the agreement, it is important to get legal help right away.
Ontario's Courts have said that, to be valid and enforceable, an agreement to lease must show the parties, give a description of the premises, set out the commencement and duration of the term, the rent, and all the material terms of the contract that are not just incidental to the relationship of landlord and tenant.
You can make your own tenancy agreement but you need to make sure that it is up-to-date with the law and in particular does not contain illegal clauses. The Tenant Fees Act 2019 made certain tenancy payments illegal such as cleaning fees.
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People also ask

Normally people have a rental lease agreement for a year or sometimes for 2 years. What is in the Ontario standard lease agreement? According to new laws in Ontario, every private residential tenancy must have a standard lease agreement.
Yes, a landlord can ask a tenant to move out when a lease expires in Ontario. However, that request must be done at the right time and handled properly in order to be considered legally valid.
The standard lease is mandatory for most private residential tenancies for new agreements signed on or after April 30, 2018. It also contains helpful information about rights and responsibilities under the act.
Ontario's Courts have said that, to be valid and enforceable, an agreement to lease must show the parties, give a description of the premises, set out the commencement and duration of the term, the rent, and all the material terms of the contract that are not just incidental to the relationship of landlord and tenant.
The landlord(s) or tenant(s) can sign the lease electronically if they both agree. The landlord must give a copy of the agreement to the tenant within 21 days after the tenant signs it.

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