Fast Facts for July 2010
- 90 days notice is required for the annual rent increase and the prescribed Form N1 must be used. You'll find forms at www.LTB.gov.on.ca.
- Interest on the deposit for last month's rent is equal to the rent increase guideline and is payable on the anniversary.
- Landlords can top up the last month's rent deposits they hold by applying the annual interest and sending a letter to the tenant informing them they have done so.
- Do not assume your tenant will move at the end of their lease. The expiration of a lease does not mean the tenants will vacate on that date. A tenant may remain in possession and does not have to sign a new lease.
- If rent is not paid on the due date, the landlord can issue a form N4 as early as the next day!
- Tenants are allowed to have pets even though they may have signed a tenancy agreement prohibiting pets.
- Tenants are allowed to have overnight visitors.
- The heating season begins September 1st and ends on June 15th.
- A landlord cannot terminate a tenancy because they are selling the property. If a rental property has three or fewer units and an agreement of purchase or sale has been signed, a landlord may, on behalf of the purchaser, give a tenant a notice to terminate a tenancy at the end of a rental period or term providing that the purchaser requires the unit for personal use.
