Residential Lease Renewal Form With Rent Increase
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FAQ
Do I have to sign a new lease? A: No, you do not. In Ontario, a residential tenancy is automatically renewed unless the tenant or the landlord gives the other a notice of termination, or they agree to terminate the tenancy after signing it.
In Ontario, when a residential lease expires, and there is no new lease, the tenancy automatically becomes a month-to-month tenancy. The main advantage for tenants with a month-to-month tenancy is that they have much more flexibility if they decide to move.
What to include in a rent increase letterDate of the rent increase letter.Name and information of the tenant and landlord.Property address and unit number (if applicable).Reference the expiration date of the existing lease.Current rent amount.Amount of rent increase.Date the rent increase will go into effect.More items...
The letter should include:Your name, current address and contact information.Date the lease extension request is submitted.Length of the lease extension, including the proposed end date.Reasons for extension.Date by which you need a decision, usually 10 days to two weeks.
Do I have to sign a new lease? A: No, you do not. In Ontario, a residential tenancy is automatically renewed unless the tenant or the landlord gives the other a notice of termination, or they agree to terminate the tenancy after signing it.
