Points to Cover in a Rental/Lease Agreement

Points to Cover in a Rental/Lease Agreement


  • Type of rental property:
    • house, condo, basement suite, apartment, etc.)
    • Landlord info:
    • Number of landlords
    • Name of landlord(s) and contact information
    • Type of landlord: Individual, Corporation, Organization

  • Tenant info:
  • Number of tenants
  • Name of tenant(s) and contact information
  • Type of tenant: Individual or Corporation
  • Make sure an address is specified for sending documents prior to and for after the tenancy has ended (2 addresses - address of rental property and permanent address)
  • Other occupants: specify if allowed, how many, how long for, and names of potential occupants
  • If a guarantor is required (Y/N) and the name of the guarantor
    • Guarantor: one who guarantees to pay the rent if the initial tenant defaults on rent payment
  • Details of the leased property
    • Complex Name and Address
    • Description of property
    • Pet Prohibitions- What kind? How many?
    • Parking Availability
    • Smoking (Y/N) ? specific locations allowed
    • Furnishing details- what and how much is already included and the estimated cost/worth of each piece
    • Is one allowed to operate a business from the leased property- and the specific regulations of local zoning ordinances that permit that type of activity
    • Under what circumstances is the landlord allowed to enter
  • Details of the term of the lease
    • Type of term: fixed end date, weeks, months, years, automatic renewal (weeks, months, years)
    • Start date of lease
    • Who is in possession of the property before the start of the lease
    • Is there an option to purchase the premise after lease term or during
  • Rent Details
    • Currency of payment
    • Period/frequency of tenant payments: week, month, quarterly, semi-annually, yearly
    • Amount of rent payment monthly
    • Day of month for expected payment
    • Address to send payment
    • Form of notice required if rent increases
    • Penalties for late payments: percentage of rent vs. fixed charge
    • Does the tenant pay taxes on property?
  • Security/damage deposit-
    • How much?
    • Is it held at interest?
    • Will it be returned at the end of the lease?
    • Is an inspection report required before the deposit is posted?
  • Landlord improvements- If so, what improvements will be made and in detail the time frame of completion
  • Tenant improvements- If allowed? And in what capacity, limits, consent needed, etc.?
  • Termination Notice details
    • legal minimum or other specified notice period
  • Utilities- who is responsible?