From the tenant's perspective, the advantage to this kind of lease is that they don't have to pay the purchase price up front. If the Tenant cannot qualify for a loan, then they have the option of purchasing the property at a later date when their finances are more secure. In addition, the purchase price may be fixed, so the tenant does not have to worry if the real estate market fluctuates.
Housing built before 1978 may contain lead based paint. Lead from paint, paint chips, and dust can pose health hazards if not taken care of properly. Lead exposure is especially harmful to young children and pregnant women. Before renting pre-1978 housing, lessors must disclose the presence of known lead-based paint hazards in the dwelling.  Lessees must also receive a federally approved pamphlet on lead poisoning prevention.
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Depending on where you live, a month to month rental agreement carries a different set of rights and obligations than a 1 year lease agreement. Nolo provides a quick low down on the difference between a rental agreement — usually for a short 30-day period that automatically renews — and a lease agreement — usually longer 6-month or 1 year plus period that ends.
From the tenant's perspective, the advantage to this kind of lease is that they don't have to pay the purchase price up front. If the Tenant cannot qualify for a loan, then they have the option of purchasing the property at a later date when their finances are more secure. In addition, the purchase price may be fixed, so the tenant does not have to worry if the real estate market fluctuates.
A weekly/monthly/yearly lease with automatic renewal (a periodic tenancy) will continue so long as neither party wishes to terminate the lease. To terminate the lease the landlord and tenant must give notice of their intention to leave as specified by statute. A landlord can raise the rent, or change the terms of the lease in these types of agreements by providing proper notice as required by statute. At the end of the notice period the tenant must move out or the landlord can start eviction proceedings against them.
Rent: Clearly specify how much the rent is and when it’s due. It should also be clear what’s included in the rent – for example, if utilities, laundry or cable are included; or whether there are other refundable or non-refundable fees payable, such as late fees. Essential services such as heat, electricity and hot water must be provided, but the agreement may say that the tenant pays for these

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Typically when a tenant agrees to a fixed term tenancy, usually for either 6 months or 1 year, the tenant is agreeing to be responsible for the rent for that period of time. If the tenant vacates the premises prior to the end of the term of the agreement, the tenant will typically still be responsible for payment of rent for the entire length of the lease (provided the tenancy is not in a jurisdiction that allows the tenant to give notice to prematurely end a fixed term tenancy). Typically, if the Landlord is able to re-rent the premises prior to the end of the lease of the breaching tenant, the breaching tenant is no longer required to pay rent as the landlord cannot collect double rent for the premises.
Alberta doesn’t have standard leases or residential tenancy agreement forms. This means that the landlord and the tenant can make up their own agreements, or they can use forms available from organizations across Alberta that develop them. Landlords and tenants should make sure that they are using an agreement that has been developed for Alberta, as each province has different renting laws. 

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The sample residential lease agreement below describes a contract between “Landlord” Keith Richards and “Tenant” Clara Trueba. She agrees to rent a two bed room, two bathroom apartment in Los Angeles for $2,000 per month for a fixed length of 12 months. The tenant agrees to pay for electricity, gas, water, cable television, and telephone, and the landlord agrees to pay for trash and sewage. This is a good example of what provisions a simple lease agreement might contain, and how one should look in its final form.
19.3 Our performance under any Contract is deemed to be suspended until the event of force majeure continues (the “Period”), and we are entitled to an extension of time for performance equivalent to that Period. We will use all reasonable means at our disposal to end the event of Force Majeure and/or find a solution by which we keep our commitments and obligations under the Contract, despite the event Force Majeure. Please note that this is an obligation of means and not an obligation of result.

19.3 Our performance under any Contract is deemed to be suspended until the event of force majeure continues (the “Period”), and we are entitled to an extension of time for performance equivalent to that Period. We will use all reasonable means at our disposal to end the event of Force Majeure and/or find a solution by which we keep our commitments and obligations under the Contract, despite the event Force Majeure. Please note that this is an obligation of means and not an obligation of result.


The sample residential lease agreement below describes a contract between “Landlord” Keith Richards and “Tenant” Clara Trueba. She agrees to rent a two bed room, two bathroom apartment in Los Angeles for $2,000 per month for a fixed length of 12 months. The tenant agrees to pay for electricity, gas, water, cable television, and telephone, and the landlord agrees to pay for trash and sewage. This is a good example of what provisions a simple lease agreement might contain, and how one should look in its final form.
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When the tenant has broken the lease conditions and vacated prior to the expiry of the lease term, the landlord may charge a "rerent levy" to recover their lost rental income and costs associated with finding a new tenant. It is usually only charged when the term of the lease is six months or more, and some jurisdictions do not permit the landlord to charge a rerent levy. The amount charged must be reasonable given the circumstances, and must not exceed the damages that the landlord suffers from the tenant leaving early.
Section 1. Subject to the terms and conditions in this Lease Agreement, the Landlord rents to the Tenant, and the Tenant rents from the Landlord, for residential purposes only, the premises located at Condo Address (the “Premises”), together with all the fixtures, appliances, furniture, furnishings and personal property upon or in the Premises set forth or otherwise referred to on Schedule A attached hereto and hereby incorporated into this Lease Agreement (such fixtures, appliances, furniture, furnishings and personal property, collectively the “Furnishings”).
I _________________________ (print customer name) agree to pay BicyclesMcW $ _________ (include full rental charge) plus applicable taxes for the _________ (indicate # of hours/days) rental of _____ (indicate quantity) x _________________________ (indicate year, make, model and serial number). The agreed upon Return Date & Time is __________________ (indicate day/month/year) @ _________ (indicate time am/pm).
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A lease agreement is beneficial for many reasons. It clarifies the obligations of both parties during a residential tenancy so each person knows what is expected of them during the rental relationship. For example, the tenant may be responsible for paying rent on the first of every month, while the landlord is expected to keep the property in good condition.
19.3 Our performance under any Contract is deemed to be suspended until the event of force majeure continues (the “Period”), and we are entitled to an extension of time for performance equivalent to that Period. We will use all reasonable means at our disposal to end the event of Force Majeure and/or find a solution by which we keep our commitments and obligations under the Contract, despite the event Force Majeure. Please note that this is an obligation of means and not an obligation of result.
A lease with a predetermined end date, usually called a fixed term lease, is when the tenant agrees to rent the property for a certain period of time at a fixed price. This type of lease uses calendar dates to specify the start and end of the lease. At the end of a fixed term lease, the landlord and tenant can sign a new lease with updated dates and information or move on.

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A: Normally, the tenant pays for all utilities but in some cases the landlord will pay for trash and sometimes water. However, you can specify which utilities (electricity, gas, telephone, television, water, trash, sewage, or any custom expense you wish to enter) are to be paid by the tenant, and which ones are paid by the landlord. Generally speaking, if the property has an individual meter to track gas, water, and electricity usage for the tenant, then the tenant will pay for his or her own utilities usage. If there is no meter and utilities are shared, the landlord should disclose this in the lease agreement.
An option to purchase refers to a lease which allows the tenant to buy the property at an agreed price during the lease term. Usually the tenant pays the landlord a non-refundable option deposit and in exchange the tenant has the exclusive right to buy the property from the landlord. The tenant is given only a certain amount of time to exercise the option. If the Tenant takes advantage of the option, the Tenant's option deposit will go towards the purchase price of the property. If the Tenant does not take advantage of the option, the Landlord will get to keep the deposit and neither party will have any rights or claims against each other concerning the option.
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