Residential Construction · Contract
Feeling a bit nervous before signing the contract?
Don't worry, We'll walk through the key contract terms together, helping you understand legal details and avoid hidden pitfalls step by step.
Don't worry, We'll walk through the key contract terms together, helping you understand legal details and avoid hidden pitfalls step by step.
Advance payment upon signing
This refers to the initial funds required to secure your rental, which must be paid at the time of signing the lease agreement.
You will usually pay:
- First Month's Rent
- Last Month's Rent
- Key Deposit
- Parking Deposit (if applicable)
- Additional
Tips
- The purpose of submitting the final month's rent in advance is to hold it as a security deposit, not as a damage deposit. It will be applied as normal during your final month of tenancy.
- In most cases, a key deposit is required, typically a small amount that is refundable.
- Some landlords may ask for proof of income, credit check, or reference letters.
Important
Ontario law does not allow damage deposits or extra security deposits beyond a key deposit.
After the First Year
Mostly, after the first year, your lease will typically renew on a month-to-month basis,
offering greater flexibility to continue or end the tenancy as needed.
Different ways
- E-transfer
- Post-dated cheques
Tips
- Rent payment date is usually the 1st of each month.
- If you stay longer than one year, you typically switch to month-to-month, unless you sign a new fixed-term lease.
What You must Check in the Contract
Ontario requires 60 days notice before moving out of a month-to-month lease.
For 1 year leases, you must stay until the end date unless the landlord and tenant agree on an early termination.
Checklist
- Utility Coverage:
- Rent Payment Details:
- Maintenance and Repairs:
- Rules and Restrictions:
Tips
- Please confirm exactly which utilities are included in the rent.
- Except to confirm the exact monthly rent amount and payment details, be sure to understand any late payment fees and the applicable grace period.
- According to Ontario law, landlords are responsible for property repairs.
- The policies might include: pet, smoking and noise restrictions.
Before signing
Please remember, always keep a digital copy of your lease, payment receipts, and landlord communication.
You could asking the landlord few questions, like how old are appliances? Is heating electric or gas? Has there been recent flooding, pests, or major repairs?
You could asking the landlord few questions, like how old are appliances? Is heating electric or gas? Has there been recent flooding, pests, or major repairs?
Things to check when you confirm the property's condition
Before you signing contract, the landlord will take you through a final walk-through to confirm the
property's condition.
You could take photos or videos during the check to avoid disputes later.
You could take photos or videos during the check to avoid disputes later.
Checklist
- Structural Damages?
- Surface Imperfections?
- Appliance Conditions?
- Window and Door Operation?
Detailed
- Is there any cracks, water stains or broken fixtures?
- Carefully inspect the floor for scratches, walls for dents, and paint for peeling. These may have been left by the previous tenant. Document them to avoid liability disputes later.
- Especially regarding the lifespan of appliances, ensure the landlord is promptly notified to arrange repairs.
Final Tips
Remember to keep digital copies of all documents.
If anything is unclear, reach out to your campus legal clinic for guidance.
If anything is unclear, reach out to your campus legal clinic for guidance.
A signed contract provides security and lets you settle into your new home with peace of mind.
May this guide support you as you warmly begin this new chapter.