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Notes on filling the Ontario Residential Property Application Form

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Get Your Ontario Residential Property Application Form Signed In One Minute

hey there my name is Mark Savelle I'm a.realtor with sage real estate and a.blogger over Toronto livings calm and if.you haven't heard yet the Ontario.government is bringing big changes to.the way we lis sell properties in the.province and in this video we're gonna.dive right into it I'm gonna tell you.what these new changes mean and how they.will affect you alrighty so I got in my.hand here the newly released residential.tenancy agreement form this is something.you've probably never seen before but.should get used to very quickly because.this will be the only form will be.allowed to use to do residential leases.in Ontario after April 30th 2018 all.rentals will have to be done on these.forms and if you haven't yet seen it I.have a link in the description below.where you can download one from the.Ontario government's website let's get.into this so why do we have this new.agreement in place I mean we've been.doing rentals for years in the city and.and everything seems to be going fine so.why change it now the reality is the.system we were using is flawed there is.all different types of contracts out.there full of different conditions and.clauses and terms and and it's a really.convoluted system we have and I don't.think a lot of people were getting.burned because there was no regulation.so the Ontario government as part of the.Ontario fair housing plan made it a.point of releasing one standardised.mandatory form written in plain simple.language now I've read this about 10-15.times already and I gotta say in the.beginning I was I was a little hesitant.I mean nobody likes hearing that the.government is drafting up mandatory.contracts that everyone's supposed to.use I mean I've been a realtor for a.decade what does the government know.that I don't know that they can do.better than me.right that's that's kind of the general.consensus but when you dive into the.agreement there actually is a lot of.good in it and I think in the long term.switching to one mandatory standardized.lease is going to make things a lot.easier.for everyone now if I had to sum up the.lease in one word it would be clarity it.is clear it is easy to understand there.is no legalese there's no lawyer wording.and complex and convoluted clauses and.stuff like that it is really.straightforward one thing I noticed is.the contract is noticeably longer than.some of the standard leases I would.write for residential property but.that's because they really go into.detail and make sure the terms are.clearly stated and very easy to.understand now the beauty of the.document is it outlines what you can and.cannot ask for in a lease and if you've.written a lot of leases in your past or.if you're a landlord or property manager.when you first read it you might kind of.say to yourself whoa they're changing.this they're changing that well I don't.write it this way the reality is a lot.of people write their contracts with.clauses terms and conditions that.shouldn't be in there in the first place.so this really isn't changing the rules.it's more clarifying what the rules.always were and how we should be writing.our lease contract so let me give you an.example and this is something I'm guilty.of and full transparency I've done it.with all my leases not knowing that the.rules stated otherwise but when I when I.put together at least I always asked the.tenant to give me a first and last.month's rent deposit pretty standard.nothing out of the ordinary.well it's actually not allowed you're.only allowed to ask for one month at the.end of the lease you can't ask for the.first and last and this is something.that I would say 99.9% of Realtors who.we sell properties have in their.standard procedure so it's gonna be.interesting to see how everybody adapts.to this and starts getting comfortable.with the fact that you could only ask.for last month's rent another thing that.popped out that really caught my.attention is damage deposits you know.landlords are always asking can I ask.for five hundred dollar damage deposit.what if they punch a hole through my.wall and my answer is unfortunately you.can't ask for one but I know there's a.lot of Realtors or landlords or property.manager out there that try and get away.with that well in the new mandatory.lease and that is very clearly stated.that you are not allowed to do that and.lastly I.tend to pick up post-dated checks so.every month I can just go to the bank I.don't have to go to the property to get.the check you can't do that either you.could suggest it and they're welcome to.take that process if they so choose to.but you cannot demand a tenant pay you.prepaid rent or predated checks or an.automatic withdrawal they do not have to.agree to that for convenience obviously.it just works better for everybody but.that was one thing that stood out to me.that was business as usual and and now I.might have to change and adjust based on.what the rules actually do state so like.I said you're gonna read this new.document and you're gonna see some.things that may look different from how.you're doing business now just remember.the rules haven't changed they're just.now further clarified as to how we have.to proceed and at the end of the least.they also have a six page appendix and.in the appendix they go over each clause.in greater detail so some for for.clarity purposes they they provide a few.paragraphs where they explain the.meaning behind the clauses or how these.clauses are supposed to be drafted and.written and filled out type of thing so.I find that to be a really good resource.for people to very easily understand.what they're getting themselves into and.I would say the strongest point of this.new agreement is that the wording the.wording is extremely clear it is very.simple it is so straightforward and it.is a welcome change to I think how some.people draft up their clauses now.because these conditions you know you.can get really complex and and and and.maybe miss the point that you were.trying to make in some of the wording.but with this new one nice and easy.so a bit of criticism there is a few.things I would like to see added to the.new contract for example there's no.section that lists out which appliances.are going to be included in the lease so.is there gonna be a fridge a stove a.dishwasher I think they should just add.one more section where we can very.clearly list out what everything is.because it'll make the process a lot.easier going forward now one thing.that's really important to note that yes.this is a mandatory form and I think.when I first heard the word mandatory.and government written I thought well.what I can't change this I have to go by.what the government's telling me to put.in my lease not true there is a section.where you can add your own clauses but.they make it very clear that if you are.going to add your own clauses.make sure they are in line with the.landlord-tenant act so if you're trying.to throw in things like no pets allowed.or you know for a non-sufficient funds.have to give me $200 it has to follow.the rules of the land or attend a dock.so you can make additions to the.contract you just have to make sure.they're in line with what their current.rules are and a big question I've been.hearing out there is well will this.impact the market is this gonna make.rents go up is it's gonna make rents go.down I think it's a mute point either.way this isn't really something that's.going to change the values of rental.properties it's just going to make the.prompt the the process a little bit more.easier to understand and a little bit.more streamlined across the board so.those are my thoughts on the new.mandatory changes to the lease agreement.here in Ontario let me know what you.think in the comments below and if you.haven't yet please hit subscribe thank.you for watching.

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How to create an electronic signature for the Ontario Residential Property Application Form in Gmail?

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How to create an electronic signature for the Ontario Residential Property Application Form on Android?

These days, Android gadgets are commonly used. Therefore, to assist its customers, CocoSign has developed the app for Android users. You can use the following intstructions to e-sign your Ontario Residential Property Application Form from Android:

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Ontario Residential Property Application Form FAQs

Note answers to listed questions about Ontario Residential Property Application Form. View the most useful topics and more.

Need help? Contact support

How do I fill out an application form to open a bank account?

It is very simple and easy to fill up this form. If you are in a difficult situation ,get the help of related Bank officials and they will help you to submit the application form.

How do I fill out the IIFT 2018 application form?

The IIFT application form process is in online mode only while to make the payment, candidates can opt for the online as well as offline mode. The end date to submit the IIFT application form has also been extended till September 15, 2017. Check the steps to register for IIFT Application Form 2018 .

What is the procedure for filling out the CPT registration form online?

You are asking for cpt examination or cpt registration If for registration then sorry but now you can only register for CA foundation If you have registered yourself for cpt before then for filling exam form go to icaiexam.icai.org and you will find all details there. Best of luck

How do I fill the JEE (Main) application form?

Hi Folks. Since NTA is about to release the application forms for JEE Main exam to be conducted in the month of January 2019, many of you must be wondering how can you fill the application form for the exam. As the application process is going to be online, it is advisable to all the aspirants to fill in your details and make the payment carefully. Keep your documents and required details beforehand so as to avoid any kind of delay later. Also, keep your scanned images of photograph and signature ready. All the best!!

How do I fill out the CAT 2018 application form?

There is a detailed instruction on how to fill up the form on the CAT website. Both written and a video format. The instructions are easy to follow. If you still find it difficult talk to a faculty if you are taking coaching in any institute or anyone known to you who has already filled the form.

How do I get my rental application approved?

Insta Personal Loan in India is the new product with which few Bank and Financial organizations has come up with. It is a type of personal loan only but as the name Insta suggests its approval is faster than the general personal loan. It is an unsecured loan which means you don’t have to give anything as guarantee like a fixed or moving property. Because of being unsecured loan only its interest rate is somewhat higher than the other loans. This loan can be availed in any kind of urgent requirement or any emergency. These emergency can be of many types such as:- · Medical emergency · Travel emerg Continue Reading

What is a rental application form?

Frequent moves Gaps in rental history No landlord references Anytime they say cash in hand (It’s the last cash you will ever see) Incomplete applications Gaps in emoyment history Changing jobs frequently Asking to skip a credit or background check

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