ontario standard lease

[trumprefugee]

The Purchaser represents to the vendor,upon which representation the vendor has relied in accepting the purchaser's offer, that the Purchaser is purchasing the real property for the Purchaser's own personal use and not for investment purposes (including as a rental property). The purchaser acknowledges that the truth of this representation is material to the vendor.

The purchaser acknowledges and agrees that if a breach of the above covenant occurs or the vendor discovers that the above representation is not true,the vendor shall have the unilateral right in its sole subjective and absolute discretion to terminate this agreement ,whereupon the deposit and any other amounts paid by the Purchaser(whether directly to the vendor or held in trust) shall be forfeited to the vendor,irrespective of and without prejudice to any other right,cause of action or remedy to which vendor may be entitled

This was on one of the clauses in agreement.

Was this from the agreement of purchase and sale? It sounds like the seller has the right to back out if he discovers that you intended to buy this property for personal use, not investment. But once the sale closes, the place is yours, and the seller can't do anything.

Now if this house is a condo townhouse, there could be a condo board that has rules. Even if it's a freehold (i.e., standalone and not part of a condo and subject to condo association rules), there could be a homeowners association with rules you are subject to. I would confirm whether your house is a condo townhouse or part of a homeowner's association.

 

[trumprefugee]

Perhaps something similar to this?

https://globalnews.ca/news/4432504/oasis-illegal-hostel/

Sounds like this homeowner is violating zoning laws that forbid the operation of a hotel. Many jurisdictions do not allow the operation of a hotel or require those operating a hotel to obtain certain licenses. There are big differences between running a hotel, a rental property, or renting out one or more rooms in your primary home.

 

[steaky]

Sounds like this homeowner is violating zoning laws that forbid the operation of a hotel. Many jurisdictions do not allow the operation of a hotel or require those operating a hotel to obtain certain licenses. There are big differences between running a hotel, a rental property, or renting out one or more rooms in your primary home.

More like the homeowner violated the zoning bylaws of single family use by turning it to an illegal rooming operation that highly upset those living nearby.

 

[ramkris]

Was this from the agreement of purchase and sale? It sounds like the seller has the right to back out if he discovers that you intended to buy this property for personal use, not investment. But once the sale closes, the place is yours, and the seller can't do anything.

Now if this house is a condo townhouse, there could be a condo board that has rules. Even if it's a freehold (i.e., standalone and not part of a condo and subject to condo association rules), there could be a homeowners association with rules you are subject to. I would confirm whether your house is a condo townhouse or part of a homeowner's association.

Its otherway around I should use it for personal use not for investment or rental purposes. I am not going to use for investment purposes or I'm giving complete house for rent and moving out. My question is about renting some portion of property.

This is not part of condo or any other associations but since builder has build the community new not sure of the any agreements. I think this is also part of HST rebate.

 

[trumprefugee]

Its otherway around I should use it for personal use not for investment or rental purposes. I am not going to use for investment purposes or I'm giving complete house for rent and moving out. My question is about renting some portion of property.

This is not part of condo or any other associations but since builder has build the community new not sure of the any agreements. I think this is also part of HST rebate.

Sorry, I mistyped. I did mean the seller seemed to put in a clause about being able to back out of the purchase contract if it turned out you bought it for investment instead of personal use. But now that you mention HST rebate, it sounds like the builder gave you HST rebate (or advertised as sales price the higher sales price less HST rebate). To cover his bases with the CRA, he put that clause in, because if you bought the place for investment purposes, only you, not the builder, would have been able to apply for the HST rebate.

See this for more information:

http://www.hstrebatenewhomes.ca/

If you purchase newly constructed real estate in Ontario and want to qualify for the HST rebate new home program, you must use the property as the primary place of residence for yourself or someone closely related to you such as a child, grandchild, brother, sister, or someone you are related to by marriage or common-law partnership.​

It sounds like you should be fine if you rent out a portion of the house, as long as you also use it as your primary residence.

 

[ramkris]

Sorry, I mistyped. I did mean the seller seemed to put in a clause about being able to back out of the purchase contract if it turned out you bought it for investment instead of personal use. But now that you mention HST rebate, it sounds like the builder gave you HST rebate (or advertised as sales price the higher sales price less HST rebate). To cover his bases with the CRA, he put that clause in, because if you bought the place for investment purposes, only you, not the builder, would have been able to apply for the HST rebate.

See this for more information:

http://www.hstrebatenewhomes.ca/

If you purchase newly constructed real estate in Ontario and want to qualify for the HST rebate new home program, you must use the property as the primary place of residence for yourself or someone closely related to you such as a child, grandchild, brother, sister, or someone you are related to by marriage or common-law partnership.​

It sounds like you should be fine if you rent out a portion of the house, as long as you also use it as your primary residence.

Is there any limit on number of years I should stay here. or until I repay RRSP loan?

 

[anujoshi]

Folks,

Are landlords following the standard lease given here-

https://www.ontario.ca/page/renting-ontario-your-rights

I was about to go rent an apartment and just saw this. I spoke to the landlord and he was like we have had no issue with the lease that they have. Your thoughts?

There is a standard lease in Ontario which must be signed for every lease that came into effect after Apr 30, 2018. The standard lease is available here: http://www.forms.ssb.gov.on.ca/mbs/...=PROFILE&SRCH=&ENV=WWE&TIT=2229E&NO=047-2229E