Ontario Rental Agreement Renewal – What You Need to Know
As a tenant in Ontario, you may need to renew your rental agreement from time to time. But do you know what to expect when it comes to renewing your rental agreement? In this article, we’ll cover everything you need to know about Ontario rental agreement renewal.
First, let’s define what a rental agreement is. A rental agreement is a legal contract between a landlord and a tenant that outlines the terms and conditions of renting a property. In Ontario, a rental agreement can be either periodic or fixed-term. A periodic rental agreement automatically renews on a monthly basis unless one party gives notice to end it, while a fixed-term rental agreement has a set end date.
If you have a periodic rental agreement, you can renew it by giving written notice to your landlord at least 60 days before the end of the rental period. Your landlord may offer you a new lease with updated terms and conditions or simply renew your agreement under the same terms. It’s important to carefully review any changes to the agreement and ensure that they are fair and reasonable.
If you have a fixed-term rental agreement, you have a few options when it comes to renewal. First, you can simply let the lease expire and move out. Second, you can negotiate a new lease with your landlord that outlines updated terms and conditions. Finally, you can renew the lease under the same terms and conditions for an additional term.
It’s important to note that your landlord cannot unreasonably withhold their consent to a renewal or an assignment of your rental agreement. If your landlord refuses to renew your agreement or you have any concerns about the renewal process, you can contact the Landlord and Tenant Board for assistance.
In conclusion, renewing your rental agreement in Ontario is a simple process that requires clear communication between you and your landlord. If you have any questions or concerns about renewing your rental agreement, be sure to consult with a legal professional for guidance.