Residential Tenancy Agreement Ontario OREA: Everything You Need to Know
If you are a landlord or a tenant in Ontario, it is important to be familiar with Ontario`s laws concerning residential tenancy. The Residential Tenancies Act (RTA) sets out the rights and obligations of both landlords and tenants in Ontario and covers all aspects of the tenancy, from the rent to the maintenance of the property.
One of the most important documents in a tenancy agreement is the Residential Tenancy Agreement (RTA). The RTA is a legal contract between the landlord and tenant that outlines the terms and conditions of the tenancy. It is important to note that the RTA must comply with the RTA`s regulations and guidelines, as well as all local and provincial laws.
The Ontario Real Estate Association (OREA) has developed a standard form of the RTA that is commonly used in Ontario. This standardized version is called the “OREA Standard Form of Residential Tenancy Agreement.” This form is designed to protect the interests of both landlords and tenants by clearly outlining the terms and conditions of the tenancy.
The OREA Standard Form of Residential Tenancy Agreement covers a range of topics, including:
1. Rent – The RTA sets out how much rent can be charged, when it is due, and how it can be paid.
2. Security deposit – The agreement outlines the amount of the security deposit, how it will be held, and the conditions under which it will be returned to the tenant.
3. Duration of the tenancy – The agreement specifies the length of the tenancy and how it can be renewed or ended.
4. Maintenance and repairs – The agreement sets out the responsibilities of both landlord and tenant for the maintenance and repair of the property.
5. Pets – The OREA Standard Form of Residential Tenancy Agreement specifies whether pets are allowed and any conditions that must be met for them to be kept on the property.
6. Use of the property – The agreement outlines the permitted use of the property and any restrictions on its use.
7. Subletting – The agreement specifies whether subletting is allowed and any conditions that must be met for it to be permitted.
8. Termination – The agreement sets out the circumstances under which the tenancy can be terminated, both by the landlord and the tenant.
When using the OREA Standard Form of Residential Tenancy Agreement, it is important to make sure that all clauses are completed properly and that all necessary information is included. Both the landlord and tenant should read the agreement carefully before signing it to ensure that they understand the terms and conditions of the tenancy.
If you have any questions about the OREA Standard Form of Residential Tenancy Agreement or about your rights and obligations as a landlord or tenant in Ontario, it is recommended that you seek legal advice. By following the guidelines set out in the RTA and using the OREA Standard Form of Residential Tenancy Agreement, you can help ensure a successful tenancy for both parties involved.