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In Ontario (there may be similar laws across Canada), although the common law recognizes certain rights and obligations of each of the parties, the landlord and tenant are free to create their own. The parties are even free to contract out of the Commercial Tenancies Act (CTA).

The applicable notice period is normally set out in the lease itself. Notice periods may be different for monetary and non-monetary defaults. Where a lease does not specify the notice period, the Commercial Tenancies Act allows a landlord to terminate a lease if rent has not been paid for more than 15 days.

Even though the property has changed hands, you will be able to keep your tenancy. Unless the new owner expressly allows you to stay, your fixed term on the property expires. They are also required to honor any provisions in the tenancy agreement that they did not agree to in the first place.

Assignments of Business Leases It is open to a landlord to request a guarantor or a rent deposit if the incoming tenant is of poor covenant strength. Once the landlord's consent has been obtained, the tenant and assignee can enter into a deed of assignment to transfer the lease to the assignee.

In most cases, if you agreed to rent the unit for a specific period of time, you cannot move out before the period ends, unless: you and your landlord agree. you assign the tenancy (and the unit) to someone else. the LTB issues an order ending the tenancy agreement early.

A leasing strategy is a plan that outlines how you will attract and retain tenants for your property, maximize your income and occupancy, and align with your long-term goals.