Below you will find a collection of information to assist you when you are planning to enter into a rental or lease agreement - whether you are a prospective tenant or a landlord.

Documents to review:

Paperwork a Landlord will require:

  • Employment letter(s)
  • Rental Application form (above)- completed in full
  • References with contact info
  • Credit report(s)
  • Deposit of first and last month’s rent
  • On occupancy most Landlords will require proof of tenant insurance

Useful web sites to view or post ads for rentals:

Many rental listings are handled directly by the landlord/property manager and are not listed on the MLS system. For these rentals you can contact the landlord directly.

Furnished units contacts:

Stayovers/Hotels – short term, while you are looking for permanent accommodation

Town Inn Suites        (416) 964-3311        620 Church St

For Landlords - some thoughts to consider:

  • Carpets need to be changed frequently. Changing to laminate will last longer and your property will rent better.
  • Expect 10 months of income per year (vacant 1 month, ½ month’s rent in repairs, ½ month’s rent in commission).
  • Keep in mind, it is often better to provide ongoing maintenance than address more substantial repairs between tenants.
  • For higher end units, providing a cleaner once a month is one way to keep your unit in good condition.
  • The Ontario Human Rights Code governs what a Landlord can and can not ask to screen potential tenants and what would be considered discrimination.

Residential Tenancies Act: Some points to note www.ontariotenants.ca/law/act.phtml, this site also includes rental ads.

Pets:  RTA Part II, Section 14

  • According to the act, it is not permitted to make any provision in a tenancy agreement prohibiting the presence of animals in the leased premises.
  • Generally condo corporations are exempt if the statutory declaration prohibits or restricts pets in accordance with the Ontario Condominium Act.

Landlord Entry:  RTA Part III, Sections 26&27

  • With 24 hr written notice for reasonable request or for potential purchasers/tenants.
  • Without notice only in an emergency or with tenant’s consent at the time.

Changing Locks:  RTA Part IV, Section 35

  • The tenant is not to change the locking system without the Landlord’s consent.
  • If this does happen then the Landlord can make remedies, according to the RTA.

Notice of Termination:

  • By either Landlord or Tenant,  at least 60 day notice must be given.

Termination Types and Forms:

  • Agreement to Terminate a Tenancy.
  • Notice to Terminate a Tenancy at the End of a Term (termination with cause).
  • Notice to Terminate a Tenancy at the End of the Term for Landlord’s or Purchaser’s Own Use.
  • Notice to Terminate a Tenancy at the end of the Term for Conversion, Demolition or Repairs (tenant will have first right to move back in).

Subletting: RTA Part VI, Section 95

  • A tenant has the right to assign or sublet their rental unit with the Landlord’s permission, which can’t be unreasonably withheld (within 7 days).
  • The tenant can not charge the subtenant more than the rent they pay the Landlord.
  • If the unit is “assigned” the tenant passes financial responsibility to the new tenant. If the unit is “sublet” the tenant is still financially responsible for the rent.

Deposits and Payment of Rent:  RTA Part VII, Sections 105&106

  • The only deposit that a Landlord may collect is rent for one rental period (traditionally, the last month’s rent).
  • According to the RTA, a Landlord may not request a damage deposit, or asking for postdated cheques or automatic forms of payment.
  • While some of the above are common place in leases, if the tenant complained to the RTA board, they would have grounds to get their deposits/cheques back.

Rent Increases:  RTA Part VII, Sections 111&116

  • For units rented prior to June 17th, 1998, the rent can increase only once over 12 months an amount set by the Government of Ontario Minister of Municipal Affairs and is set to reflect inflation.
  • Annual guidelines apply only to buildings renting prior to June 17th, 1998.
  • 90 days notice must be given of any increase.
  • If the unit becomes vacant, the rent can be set to any amount.
  • The landlord can apply to the Board for an increase as much as 3% over the guidelines based on increased operating expenses and or property improvements.

Help for Landlords and Help for Tenants

www.LTB.gov.on.ca; (416) 645-8080

 

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Bosley Real Estate Ltd., Brokerage
416-481-6137

Home and Loft Ideas  |  Toronto Resources

Marisha Robinsky, REALTOR
276 Merton Street
Toronto ON M4S 1N9
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