The compromise for this long-term rental obligation is that the owner is not: This is a big question. Leases may seem confusing and it may be difficult to know what the document means. Let`s check five things to pay particular attention to what you sign your agreement. A tenant without a written agreement always has legal protection. If you have purchased a Part 4 lease or other Part 4 lease, your landlord can only terminate your lease in certain circumstances. Read more in our document If your owner wants you to go. If you have a fixed-term lease or lease, you are also subject to the terms of this agreement. This means that you can lose your down payment if you leave before the time specified in the lease, even if you give the correct amount of the notification as described above. There are, however, a few exceptions, for example: pay attention to all the fees your landlord has included in your rental agreement. If you. B have a “liquid compensation clause” and if you terminate your lease prematurely, you may have to pay the relocation costs of your unit. Or, if you live in a Strata property, you may have to pay moving and moving expenses. Do you remember what was said about paying rent, since a tenant`s liability is number one? Well, the law allows a landlord to charge a fee of 25 $US for late payment of rent if the rental agreement contains a clause on that.

The Residential Tenancies Act 2004 gave tenants the right to remain in rental housing after an initial period of 6 months and up to four years. This right is referred to as a “seniority guarantee” and applies to both periodic and temporary leases. Your rental agreement then becomes a Part 4 lease agreement and can be followed by another Part 4 rent, both described below. The Planning and Development (Housing) and Residential Tenancies Act 2016 extended a Part 4 rental fee from 4 to 6 years. This is the case for all leases established as of December 24, 2016. Remember, there may be extra fees in addition to your basic rent. Does your rental agreement contain the amenities and amenities that are important to you? Laundry? parking lot? Memory? Utilities? A periodic lease has no deadline. It continues until the tenant or landlord indicates in writing the termination. As a tenant, you can terminate the periodic lease at any time. You don`t have to give a reason. Here, too, there are detailed rules for notice periods and what is a valid termination – see below “End of your lease.” Contracts can be written or oral, and rent is paid monthly.

Some rental units, including residential hotels, may offer week-to-week rental contracts. Monthly agreements allow for greater flexibility and often require less deposit. However, a temporary tenancy period is generally the best option for tenants who do not plan to move for at least one year (or regardless of the length of the tenancy).