If you`re a landlord or a tenant in Ontario, Canada, you`ll want to know about the new lease agreement word document that`s now available. This new document has been updated to include several important changes to reflect the current laws and regulations governing rental agreements in the province. Here`s what you need to know.
Firstly, the new Ontario lease agreement now has a section specifically dedicated to cannabis use. Given that cannabis has now been legalized in Canada, it`s important to address it in rental agreements. The new lease includes language that states that tenants must not grow cannabis in the property or use it in a way that creates a nuisance or hazard. This is especially important for landlords who may have concerns about damage to the property or complaints from other tenants.
Another important change in the new lease agreement is a requirement that landlords must provide tenants with a written notice outlining the reason for any rent increase. This is a significant change from the previous version of the document, which did not require landlords to provide a reason for rent increases. This new requirement is intended to provide transparency and ensure that landlords are not unfairly raising rents without justification.
Additionally, the new Ontario lease agreement includes new provisions related to pets. For example, landlords are now required to include information about any pet-related fees or deposits in the lease agreement. There is also language specifying that tenants are responsible for any damage caused by their pets.
Finally, the new lease includes updated language related to the termination of a tenancy. The document now includes information about how landlords and tenants can terminate a tenancy early, as well as the notice required for termination. This updated language is intended to make the process more clear and transparent for both parties.
In summary, the new Ontario lease agreement word document includes several important updates and changes that landlords and tenants should be aware of. These changes reflect the current laws and regulations governing rental agreements in the province and are intended to provide greater transparency and protection for both parties. Be sure to familiarize yourself with the new lease agreement and update your rental agreements accordingly.