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.
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Both written and oral rental agreements define the legal rights and responsibilities for both the landlord and the tenant. This is important as they can be referred to if a conflict arises between either. Note, however, that verbal consent makes it much more difficult to refer to in the event of a dispute as each party might remember things differently.

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Typically, renting a room or a basement suite means you are sharing an accommodation with the landlord. A basement suite is a self-contained dwelling unit complete with its own kitchen, bathroom, and living area. Most tenants of a basement suite use a separate entrance to enter the house than the rest of the occupants. If you rent a room, you will likely share either the kitchen or bathroom with the landlord or other tenants.
Section 14. The staff or the building manager may enter the Premises at any time in the event of an emergency. With two days prior notice, the Landlord or Landlord’s agents may enter the Premises at reasonable times and manners to make repairs or improvements, or to show the Premises to prospective buyers or tenants. The Landlord may also enter the Premises to conduct a semi-annual inspection to check for safety or maintenance problems.
This Agreement, including all attachments (if any), constitutes the entire agreement between the parties supersedes all previous negotiations, agreements and commitments whether written or oral with respect to this tenancy. Any modification of this Agreement shall be in writing and shall be signed by each party. There are no understandings, representations or warranties except as herein expressly set forth and no rights are granted except as expressly set forth herein.
The Landlord reserves the right to dispose of any personal belongings left behind by the tenant, and furthermore reserves the right to rent the Property to additional occupants, and hold the Tenant financially responsible for any difference between the monthly rent that would have been paid under this rental agreement, and the rental payment under any additional rental agreements with subsequent Property occupants. 

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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”). 

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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. 

A rental agreement can be written, verbal or implied. Since the rental agreement is the most important part of a landlord and tenant relationship, it should be in writing. The advantage of a written agreement is that it outlines the terms and conditions agreed to by both parties. Once the landlord and tenant agree to the terms and conditions of their contract, it cannot be changed unless both parties agree.
Whether subletting or assigning, the candidate should have a good credit history and be earning a steady income. Note that with assignment, if the landlord does not allow you to assign the rental unit, or doesn’t reply within seven days of your request to assign it, the tenant board says you are allowed to end the tenancy by giving notice to the landlord no later than 30 days after your assignment request was made.
The landlord may not change the terms of the lease during the lease period (whether a week, a month, or a year). If the landlord tries to change the terms of the lease for the next period, the tenant has 2 options. The tenant may either accept the changes and continue to live at the premises, which will then renew the lease on the new terms, or give proper statutory notice to terminate the lease. 

As of April 30, 2018, landlords of residential rental property in Ontario will be obligated to use a new government-issued standard lease template (the “Standard Lease”) for all new residential leases. Requirements relating to the Standard Lease are contained in new Section 12.1 of the Residential Tenancies Act, 2006 (the “RTA”) and related regulations.
immediately notify the manager of the buildings of which the Premises is a part of in person, by office telephone at Condo Office Phone Number, or by emailing Condo Office Email Address, and thereafter the Landlord by cellular telephone at Owner Phone, of any emergencies, dangerous conditions or defects in and about the Premises or Furnishings of which either Tenant becomes aware
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