Lease Agreement
Understand how lease agreements work in Canadian real estate, what they must include, and how they protect tenants and landlords alike.
May 22, 2025
What is a Lease Agreement?
A lease agreement is a legally binding contract between a landlord and a tenant outlining the terms and conditions under which the tenant may occupy and use a property.
Why Lease Agreements Matter in Real Estate
In Canadian real estate, lease agreements are critical for defining the rights and responsibilities of both landlords and tenants.
A standard lease includes:- Monthly rent amount and payment schedule
- Term of lease (fixed-term or month-to-month)
- Security deposit details
- Rules for pets, smoking, guests, and repairs
- Termination and renewal clauses
Some provinces, like Ontario, require landlords to use a standard government-issued lease form. Both parties must sign the agreement, and landlords must provide a copy to the tenant.
Lease agreements protect both sides: landlords gain legal recourse in case of non-payment or damage, and tenants secure housing and tenancy rights. Clarity in the lease prevents disputes and ensures compliance with provincial tenancy laws.
Understanding lease agreements is vital for anyone renting out or moving into a residential property.
Example of a Lease Agreement
A tenant signs a one-year lease at $2,000/month, with rules prohibiting subletting without the landlord’s written permission and requiring 60 days’ notice before vacating.
Key Takeaways
- Legal contract between tenant and landlord.
- Defines rent, terms, and responsibilities.
- Required in all residential rental situations.
- Regulated by provincial tenancy laws.
- Must be clear to avoid disputes.
Related Terms
- Tenancy Agreement
- Landlord and Tenant Board
- Rental Rights
- Security Deposit
- Residential Lease
The 5655 Cambie Street site at the northeast corner of W 41st Avenue and Cambie Street in Vancouver. / NSDA Architects, Polygon
Renderings of the commercial building podium for Elysee. / NSDA Architects, Polygon
Renderings of the commercial building podium for Elysee. / NSDA Architects, Polygon
Renderings of the commercial building podium for Elysee. / NSDA Architects, Polygon 
Renderings of the 31-storey Elysee proposed for 5655 Cambie Street in Vancouver. / NSDA Architects, Polygon
Rendering of 1025 The Queensway/WZMH Architects
Rendering of 3406-3434 Weston Road/ICON Architects
Rendering of 13-21 John Street/Turner Fleischer
Rendering of 604-610 Bay and 130 Elizabeth streets/Studio Gang, architects–Alliance
Rendering of 3434 Lawrence Avenue East/BDP Quadrangle via First Capital REIT
Rendering of 1251-1311 Yonge Street/BDP Quadrangle
Lawrence Plaza Master Plan/Diamond Schmitt, RioCan REIT, Milestone Group
2720–2734 Danforth Avenue/Batay-Csorba Architects Inc., Collecdev-Markee Developments
36-40 Avondale Avenue/DIALOG
614 Danforth Road/BDP Quadrangle, Achille Developments, DBS Developments 
41-47 Hendon Avenue/Arcadis, 41H Development Limited Partnership
429 Lake Shore Boulevard East/SvN Architects + Planners, Castlepoint Numa
137 Marlborough Place
