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A single room rental is where a home or condo owner rents out a room in their house or apartment. You become the landlord and the renter becomes your tenant. Unlike a sublease, as the owner of the home, you don't have any responsibility to a landlord unless you're in a condo.
Noun. a payment made periodically by a tenant to a landlord in return for the use of land, a building, an apartment, an office, or other property. a payment or series of payments made by a lessee to an owner in return for the use of machinery, equipment, etc.
Can you legally rent a room in your house Ontario? A room rental still falls under the Residential Tenancies Act unless the roomer is required to share the kitchen and/or bathroom facilities with the owner, the owner's spouse, child/parent or the spouse's child or parent.
"Room & Board" would indicate that you are not only renting the physical premise (which is often less than a separate apartment but merely a room in an undivided living space but could also be a separate physical apartment in some circumstances) but would also include food (the board).
Yes, Microsoft Word has a free lease agreement template that you can customize to create your own contract and minimize any potential problems between tenant and landlord.