Description

A lease agreement is entered into when one person (“landlord”) gives use and enjoyment of his/her property to another person (“tenant”) for a specific period of time in return for the payment of rent. … The Rental Housing Act (“Act”) applies to a lease agreement entered into for housing purposes. This is a written contract that sets out the terms and conditions between the Landlord and Tenant of a residential property, this offers protection for both parties (the landlord and the tenant) and is best suited for companies and individuals wishing to enter into formal residential agreements and/or business residential agreements with one another.