A Comprehensive Guide, to Renting Residential Properties in Canada
Starting your renting journey in Canada? Make sure you have the knowledge to navigate the process smoothly. Here is an in depth overview of what every tenant should know when renting a property in Canada;
Different Types of Leases;
In Canada there are two types of leases; written and verbal. Both are legally recognized,. It is highly recommended to opt for a written lease. This ensures clarity. Serves as a reference in case of any future disputes.
Essential Elements of a Lease Agreement;
It is crucial that your lease agreement clearly covers the following aspects;
The rent amount specified in dollars.
Identification of all parties involved.
Inclusions and exclusions regarding what’s covered by the rent.
Conditions outlining how either party can terminate the lease.
Responsibilities of Tenants;
As a tenant you have responsibilities, including;
full payment of rent.
Keeping the rental premises clean and undamaged.
Complying, with all rules and restrictions outlined in the lease agreement.
Responsibilities of Landlords;
Once your lease begins it is the responsibility of your landlord to;
Maintain the property in repair and ensure it remains habitable.
Make sure that the basic necessities, like fuel, electricity, hot and cold water and internet (if included in the rent) are provided. It’s important to follow the rules and regulations to your province or territory.
When it comes to deposits landlords can ask for security deposits, pet deposits or key deposits. However none of these should go beyond one months rent. You may need to pay half of the deposit. The remaining amount within two months. The deposits should be held in a trust account. If your tenancy lasts for than five years you should receive interest on your deposit (which was 0.05% in 2018).
Before moving into the property it is advisable to conduct a move in inspection. This will help document any existing damages through photographs so that you won’t be held responsible for them later.
Different provinces and territories in Canada have their Residential Tenancy Act or similar legislation that outlines the rights and responsibilities of both landlords and tenants. It is crucial to familiarize yourself with the legislation to your location.
Landlords have the right to establish house rules as part of the agreement to promote a living environment among tenants. These rules may cover guest policies, parking regulations and tenant accountability, for their guests behavior while adhering to house rules.
As a tenant it is important to know and understand your rights. These include having an comfortable place to live privacy and protection, from eviction. Make sure you familiarize yourself with these rights to have a renting experience.
By being knowledgeable about your responsibilities and rights as understanding the lease agreement and local laws you can establish a good relationship with your landlord and enjoy a hassle free renting experience, in Canada.
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