Searching for a home to lease can be a very overwhelming experience for a soon to be tenant, as many factors need to be taken into consideration within your search. These factors consist of finding your new home within an ideal neighbourhood, with included amenities that fit your budget.
When you have found a place that you would like to call home, it is important to enter into a written lease agreement with your landlord. This agreement will stipulate the terms of the lease, including the term of tenancy, rent and other associated maintenance fees, as well as outline your capacity to sublet. It is recommended to have a lawyer review the terms of your lease to ensure your best interests are looked after within the agreement.
The tenancy term in the agreement will outline your commitment to the lease as a fixed or periodic tenant. A fixed tenant is responsible for a longer lease with a mutually agreed upon rental fee during the stipulated timeframe. On the other hand, in a shorter lease, a landlord has the right to increase the rental fee for a periodic tenant after one year.
Another important item to consider within a lease is your capacity to sublet. Having an option to sublet can be advantageous as it would allow another party to take control of your tenant responsibilities should you decide to move or become unable to fulfill the terms of your lease. It is important to mention that the original tenant may still be responsible for the rental payments, should the subletter default on their payments.
It is important to review the terms of your lease agreement carefully as an eviction may result by the landlord if a tenant does not follow the outlined terms that were mutually agreed upon. If you are entering into a lease agreement and require legal advice, or if you have been taken advantage of in a landlord/tenant situation, contact Brace law to book a consultation.
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