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Rental Agreement Orea

Rental Agreement OREA: Everything You Need to Know

If you`re a tenant looking for a rental agreement in Ontario, Canada, you may have come across the term “OREA” and wondered what it meant. In short, OREA stands for the Ontario Real Estate Association, a professional association for real estate agents in Ontario. But what does OREA have to do with rental agreements?

In Ontario, rental agreements are governed by the Residential Tenancies Act (RTA). The RTA sets out the rights and responsibilities of landlords and tenants, as well as the rules that they must follow. OREA has developed a standard form of lease that landlords and tenants can use to create a rental agreement that complies with the RTA.

So what should you know about the rental agreement OREA form? Here are some key points:

1. It`s a standard form. The rental agreement OREA form is a standard form that is designed to be used by landlords and tenants in Ontario. This means that it meets all the legal requirements of the RTA and is accepted by the Landlord and Tenant Board.

2. It covers all the basics. The rental agreement OREA form covers all the basics of a rental agreement, including the names of the landlord and tenant, the address of the rental unit, the rent amount and payment terms, and the start and end date of the tenancy.

3. It`s customizable. While the rental agreement OREA form is a standard form, it is also customizable. Landlords and tenants can add or remove clauses as needed to tailor the agreement to their specific circumstances.

4. It includes important clauses. The rental agreement OREA form includes clauses that are important for protecting the rights of both landlords and tenants. For example, it includes a clause that allows landlords to carry out repairs and maintenance, but requires them to provide reasonable notice to tenants. It also includes a clause that outlines the responsibilities of tenants when it comes to keeping the rental unit clean and in good condition.

5. It`s easy to find. The rental agreement OREA form is easy to find online. You can download a copy from the OREA website or from other websites that offer legal forms.

In conclusion, if you`re looking for a rental agreement in Ontario, the rental agreement OREA form is a good option. It`s a standard form that is accepted by the Landlord and Tenant Board, it covers all the basics, it`s customizable, it includes important clauses, and it`s easy to find. Just be sure to read through the agreement carefully and understand your rights and responsibilities as a landlord or tenant.