Ontario Lease Assignment
Hi everyone!
I'm looking to assign my lease to someone else, I was wondering what I as a tenant need to do to make this happen. I have several interested parties that are interested in taking over the lease for the remainder of my contract.
However, do I just hand the contact information over to the landlord and let them talk about it?
The issue that I would probably have is that he's asking for a candidate similar to me. These are the terms that they laid out as conditions to assigning a lease.
An excerpt of the email that was sent back to me.
As per your request to terminate your existing lease, we are open to you assigning the remainder of your contract to another tenant.
We have the following standard conditions:
The assignee will be taking over only the remainder of your lease
The lease will not be subject to any changes in conditions or rental value
The assignee will be of good Financial and Credit status with a steady job
Current Employment letter shall be provided to us
Recent Credit Report should also be forwarded to us
The charges and fees associated with the transfer of the lease will not be visible to us Points 4 & 5 are usually easily provided by an Real Estate Agent
Please let me know if you have any further questions/concerns.
Yes, you hand over what you believe is a valid candidate and then the landlord has to assess them. They can't unreasonably say no but all the continues they listed are reasonable.
You are responsible for his reasonable costs of verifying the new tenant (such as fees for credit checks and other verification work done by a real estate agent)
Would the first condition be unreasonable though re: it forces a termination date upon the potential assignee?
What if the assignee intended to stay month-to-month after their lease expired?
But lets say I can't find a new tenant that fits their bill, what are my options?
Can they charge me the realtor's fee for finding a new tenant?
I would find two of the conditions to be unreasonable.
The first condition is unreasonable because the wording makes it seem like it forces a termination date upon a prospective assignee. A lease, once the term ends, automatically goes month-to-month and the tenant can elect to stay if they choose to.
The third condition is unreasonable because it discriminates under the Ontario Human Rights Code. See here: http://www.ohrc.on.ca/en/policy-and-guidelines-discrimination-because-family-status/x-housing#fn67
Some landlords require that potential tenants have ‘stable’ long-term employment. This requirement can be problematic for caregivers returning to the workforce after lengthy periods as full-time caregivers. Requirements that applicants be employed on a permanent basis or satisfy a criterion of minimum tenure with an employer have been found to discriminate on Code grounds.
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