RENT

Rent means any periodic payment required under a lease to be made by the lessee under the lease agreement. Rent is obviously an important component of any tenancy agreement (an “essential term”). Tenants pay rent on a regular basis and have an obligation to pay rent on time, in accordance with the tenancy agreement. Both parties should agree on the level of rent payable and include this amount in the tenancy agreement.

The tenancy agreement should state:

• how much rent is to be paid
• how rent will be paid eg directly into a bank account
• when rent is to be paid.

A lessor can request that a tenant provide up to one calendar month's rent in advance. A lessor cannot change the way in which rent is to be paid unless both parties agree. For example, if rent is currently paid by cheque, a lessor cannot demand that a tenant pay the rent directly into a bank account unless the tenant agrees to the change.

See:
 
receipt for payment of rent

rent increases.