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residential lease agreement - FAQ

Is it possible to get out of a Residential Lease that I signed 4 months ago for a one-year agreement?

I am a landlord and also a licensed broker. Aside from simply trying to negotiate with the landlord to break your lease early, there's nothing you can legally do to break it and not be on the hook for the remainder of the lease term. HOWEVER, if you abandon the premises, the landlord has a legal obligation to make his/her “best effort" to re-rent the property out. If the landlord finds a new tenant, then you are off the hook from that point on. Any months during the lease where rent was not paid and the landlord didn't have a new tenant in place, you'll be on the hook for. If you choose not to pay those amounts, the landlord can pursue civil action against you to recover them. Whether your landlord will actually follow the law and make a reasonable effort to re-rent the property out really is determined by whether you were paying above/below market rate for the place, and/or how easy it will be for the landlord to come after you to recover that money. The one thing the landlord can not legally do is collect double rents (i.e. from you and a new tenant).

How long can a residential lease agreement be?

How long can a residential lease agreement be? For Colorado, United States:Colorado has no laws in place that requires a minimum or maximum term. Your state and locality may have laws that address lease terms, so make sure you check on local law. For practical purposes, if residential real estate is leased to a real person, the term of the lease would be limited only by the life of the person. Beyond the end of a person’s life, the lease would be unenforceable against the decedent unless there are specific terms that addresses the person’s estate’s responsibility to fulfill the terms of the lease.

What is the difference between the Residential Tenancy Agreement and the Agreement to Lease in Ontario?

There’s a few different ways to look at this, depending on your context, but I’ll try to keep this simple and shor A.A Residential Tenancy Agreement is a legal contract between a landlord and a tenant for a residential unit. It’s a standardized form produced by the Ontario government and as of April 30th, 2022 it is the required form for all residential leases signed on or after that date. It is explicitly governed by the Residential Tenancies Act (2022), the law that covers residential rentals in Ontario. An “agreement to lease” is not specific legally defined form. In most cases, it likely just refers to an older form that was used for many residential leases, produced by the Ontario Real Estate Association. Many (possibly most) residential leases signed in Ontario in the last 20 or so year, but before April 20th, 2022. were done using this form. However, it’s worth noting that the term an “agreement to lease” has also been used for pre-lease forms (basically an application) as well as for commercial, industrial, machinery and many other leases.

How can I get out of my residential lease?

By removing the landlord's reason for objecting to it. Most landlords aren't interested in a tenant's life circumstances or their complaints about the apartment, they simply want the rent paid by a responsible tenant. Use Craigslist or other local advertisement to find a qualified replacement tenant who is willing to take over your lease or, preferably, to sign a new lease with the landlord. Once you've found someone, then contact the landlord and request consent to assign your lease to this new party or, preferably, to terminate your lease without penalty subject to acceptance of your replacement tenant. That's how to get out of a residential lease.

Is residential lease/rental agreement a valid proof of ties to the home country when applying for a visa?

No. When evaluating a visa applicant, visa officers have to make a global assessment of what an individual would be giving up in their home country versus what they could gain by remaining (even illegally) in Canada. Is the applicant gainfully employed, and does it appear the person’s job has a future? Do they have any evidence the vacation they’re taking from their job is approved leave, and what date are they expected back? What is the family structure? Is the applicant married or single? If married, does the spouse know about the visa application, or could this be a do-it-yourself divorce? Is a vacation in Canada a credible prospect for the applicant • how much of their annual income are they spending on a holiday? This is not a complete list, each application is assessed individually, and different factors may be considered in each case.

As the company, how do I correctly fill out a Stock Power as part of a stock purchase agreement?

The Stock Power in question evidently is an exhibit to a Stock Purchase Agreement by which the OP is purchasing restricted stock that is subject to forfeiture or repurchase by the company, entirely or in part, probably based on how long the OP continues to work with the company.Yes, just signing is the proper thing to do (from the company’s perspective) because at this time it is not known whether, or to what extent, the OP’s shares will be subject to forfeiture or repurchase.So, if and when the time for forfeiture or repurchase arrives, the company will fill in the rest of the Stock Power to transfer the forfeited or repurchased shares to the company - you will keep the shares that have vested as of that time.For the OP’s comparison, and for the benefit of Quorans who are not familiar with such Stock Powers, here is the text of the instructions that I put at the bottom of a Stock Power:(Instruction: Please do not fill in any blanks other than signing at the signature line. The purpose of this Stock Power is to enable the Company to exercise its right to reacquire Restricted Shares in the circumstances provided in the Restricted Stock Agreement without requiring an additional signature by the Grantee.)

If you have a year to year residential lease agreement, but the end date is the same as the move in date, is the lease still valid?

How do you know you have a year-to-year lease if the end date is the same as the move-in date? It’s tempting, of course, to say that the end date is just a typo—the landlord meant 2022 rather than 2022. Whoops, just hit an “8” rather than a But9.”But that’s not how leases are written. A year-to-year residential lease would run April 1, 2022. to May 31, 2022. Or January 1 to December 31. Or October 1 to September 30. You’d never write a lease January 1 to January 1 or June 1 to June 1. Further, most leases specify a total amount due. For example, if the tenant is supposed to pay $1,000 a month, the lease would say that the tenant was responsible for $12,000, payable at a rate of $1,000 monthly. If the tenant has agreed to pay $12,000 in monthly chunks of $1,000, any reasonable person (as in a judge) would interpret the document as a year-to-year lease. For more information, please see a lawyer.