Store Age Lease For Free

One year is most typical. If you break the lease, you're breaking a contract, and the landlord can hold you responsible for paying the rent until the end of your lease term. For example, if you pay $1,800 a month and want to break your lease for the last four months, you could end up on the hook for $7,200.

The Landlord and Tenant Board (?LTB?) in Ontario recognizes five different reasons a tenant may break their lease early without penalty: (1) You and your landlord agree to end the lease early; (2) Find another individual to assign the lease/unit to; (3) Have the LTB issue an order to end your tenancy agreement early; ( ...

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.

When a tenant breaks a lease, the amount of money owed is generally tied to the amount of money the landlord loses. However, the landlord also has a legal responsibility to minimize or mitigate their losses by taking reasonable steps to re-rent the unit.

"The landlord is not obligated to renew a fixed-term lease and there is no right of the tenants to stay in the rental unit after the fixed-term lease ends," the decision reads.

Legislative changes to the Residential Tenancies Program. Changes come into effect 3 February 2023. A landlord can increase rent anytime, not just on the annual anniversary of when the tenant signed the lease. The landlord must give the tenant at least 4 months' notice and only increase rent once every 12 months.

The eviction date can be no sooner than 15 days after the date you give the tenant the form.