Do You Still Need an Agent with the New Standard Lease?

02 May 2018

The new standard lease for rentals has come into effect for Ontario on April 30th.

As a Landlord, you might ask yourself, "Do I still need an agent?"

Absolutely. You need someone to market the property still. You need someone to schedule showings. You need someone to obtain the rental application, credit bureau and the letter of employment. And, you need someone to interpret the information. The standard lease is just an attached schedule to the offer to lease, which you still need .With the standard lease, there are pitfalls too. So come and talk these out with an agent.

As a Tenant, do I still need an agent?

Absolutely. You need someone to arrange and to show you properties. You need someone to advise you as to market rents and to their availability. You also need to be packaged for the Landlord. Landlords don't take just the highest rent offer, but they want the most reliable tenant.

Finally, you need to put your deposit with a broker in-trust first, not to pay a person who holds himself out, and who may not be the owner of the property.

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