Finding a place is hard enough. When it comes to signing the Residential Tenancy Agreement, or rental agreement, it’s a whole other ballgame. Read on as we break down what you need to know and pay attention to regarding Residential Tenancy Agreements.
The Residential Tenancy Agreement is a mandatory contract you sign with your landlord outlining the terms of your tenancy. It will typically include duration of rental, rental rate, payment terms, restrictions (i.e. pets, subletting etc.). The landlord is expected to give the tenant a copy of the signed and dated tenancy agreement.
The agreement must include the following:
The standard terms on pets, condition inspections, rent increases, subletting, repairs, occupants and guests, locks, landlord’s entry into unit, and ending tenancy
Landlords and tenants can agree to include other terms but the list above must be included.
What are common addendums or additional terms you can add to your Residential Tenancy Agreement?
Landlords may also include terms related to pets, smoking, subletting or late payment fees. These are binding as long as the tenant agrees to them
We also recommend you ask for a list of Strata Rules if you are renting in a strata building. There are often another set of rules that you must abide by to keep the peace in the building. For example, check to see if barbecues are permitted.
If you signed a fixed term lease, pay special attention to what the agreement says regarding what happens at the end of the term. There are 3 possibilities:
You must vacate at the end of the fixed term. This is usually invoked if the landlord or their family member will be moving in.
The tenancy will continue on a month to month or another fixed term basis. Your landlord cannot force you to sign another fixed term. If you want to vacate after your lease is up, one month’s notice must be provided to the landlord.
A lease term indicates the duration of your lease. A Fixed Term Lease is when the renter agrees to stay and pay rent for the period of time indicated in the agreement (6 months, 1 year, 2 years etc.). If a renter breaks the lease prior to the end of the lease, they will typically lose their deposit and potentially the value of the lease remaining.
A month to month term is essentially a rental agreement for a one-month period that is renewed automatically each month for another month until properly terminated by either party. In the Residential Tenancy Act, month to month tenancies are referred to as “periodic” tenancies and are by far the most common type of periodic tenancy, but a tenancy can also be established on a weekly or other periodic basis.
If a one year lease ends, it automatically becomes a month to month arrangement unless both parties agree to sign another fixed term
