N1 - NOTICE OF RENT INCREASE
When the cost of living or maintenance costs increase, a landlord must increase a tenants rent to correspond with his/her rental expenses. A Notice of Rent Increase must be delivered before the rent can be increased.
N4 - NOTICE TO TERMINATE FOR RENT DEFAULT
If a tenant has defaulted on their rent payment, meaning they have not paid it at all have not paid it when it was due or have not paid the full amount, a landlord may issue a N4. Other lease violations require a different form.
N11 - AGREEMENT TO TERMINATE TENANCY
At times, a tenant may be persistently late with the rent or may no longer qualify to live in their unit and a landlord is required to terminate their tenancy. A landlord will use an Agreement to Terminate Tenancy or an N11 form.
N12 - NOTICE TO END TENANCY BECAUSE THE LANDLORD, A PURCHASER OR A FAMILY MEMBER REQUIRES THE RENTAL UNIT
If a landlord requires the rental unit for either a member of the immediate family, provides care services to the landlord or to an immediate family member or if a purchaser or an immediate family member of the purchaser a landlord may use an N12 Form to end the tenancy.
A lease agreement is usually a customized agreement based on the type of rental unit (condo, house, or multiplex) along with the certain criteria a landlord would like. A Standard lease agreement in Ontario came into effect on April 30, 2018.
The Rental Application provides information about the applying tenant to the landlord. This information can determine if the tenant is a good fit or not.
STEPS TO CREATING A SECOND SUITE
A second suite can be a very affordable rental housing opportunity that can be a benefit to both homeowner and tenant. A second suite is a self-contained unit which includes a private kitchen, bathroom, sleeping area and a separate entrance. Here's information on how to create that second suite.
ALLOWABLE RENT INCREASE IN 2019
The allowable rent increase in 2019 has been set at 1.8%. For more information click below.