Having an effective lease is probably the single most important document you will need for your tenants.  Don’t screw it up!  Leases are important because they set specific terms and conditions of the tenancy as well as anticipate the possible challenges encountered during a tenancy and remediation of those issues.  Further, a good lease will also outline the incoming and outgoing procedures as well as include some building/property “rules” as well.Sometimes there may be maintenance items that a tenant is required to do or specified actions a tenant must take (ie. provide sufficient notice if moving out, etc.)  All of this is included in the lease.  This 40-clause residential lease is both Ontario-friendly and thorough in covering most ground.  It includes specific areas for subletting, assignment, breach of lease, seasonal maintenance, pets and noise, repairs, abandonment,  outline of tenant duties, landlord’s right of entry, unit alterations, parking, insurance, included appliance and/or utilities, plus so much more.  Feel free to customize the lease or use it in its entirety.   We still use the exact same template of this lease today for our own residential tenants.  We’ve not found a better lease than this one!   Plus, don’t forget to purchase the upgraded SCHEDULE BONUS PACK (a great value!) Purchase the following additional Schedule Bonus Pack ($7) specifically made for this lease.  The Schedule Bonus Pack includes the following:

• Schedule A – Building Rules and Regulations  – Includes 19 rules such as no smoking, loitering, clutter, pets, dangerous equipment/flammables, canvassing, etc. spelled out in detail in this 2-page schedule.
• Schedule B – Guarantor Of Lease – Shaky credit, first-time tenant, younger tenant, or contract working tenant?  You may want the added insurance of having a guarantor guarantee the rent in the event the tenant runs into problems.
• Schedule C – Pre-Lease Extension – This schedule extends the lease before the official start date.  That way, your tenant can move in early, pay you rent, but still have a clean, original lease start date.
• Schedule D – Early Conditional Termination Of Lease – Good if you are terminating a lease so a tenant can occupy another unit within your property (and start a new lease) – flexible clauses.
• Schedule E – Additional Tenant/Occupant – If, during the term, your tenant wants to add an additional tenant and/or occupant to the lease, use this schedule.