The interest of a lease is to avoid litigation. In the event of a dispute between the landlord and the tenant, the tenancy agreement also exists for the protection of the rights of both parties. Most basic leases remain valid even if your business has been concluded, unless you have negotiated a lease termination clause that depends on the closure of the business. It is important to have a lease to resolve problems before they cause legal complications – which usually occur when a party decides to terminate the contract. A tenant or landlord who has a dispute related to a termination, unpaid rent/utility, a surety, damages, repairs or other general disagreements may use the service. The tenant or landlord can contact the Residential Tenancy Dispute Resolution Service (RTDRS). A substantial violation occurs when a tenant does not fulfill any of its obligations under the ATR or when a tenant commits a number of breaches of the tenancy agreement and the cumulative effect is significant. In Alberta, leases can be either periodic or temporary. If the landlord does not respond to the request within 14 days, the tenant may consider that the landlord accepts the subletting or transfer. The termination of this type of agreement is left to the discretion of the lessor and the tenant and must be agreed by both parties, unless the tenancy agreement has been breached. The landlord or tenant is not obliged to resign to end a temporary rent.
It is polite that the landlord or tenant should make a reminder before the end of the tenancy agreement. If you are a business rental property, you need to know your contractual terms. As in the case of a rental, there can only be certain conditions under which you can terminate a rental agreement. A tenancy agreement is a legal contract between a landlord and a tenant. It describes details such as: The owner must pay your deposit with interest within 10 days of moving the building. If the owner does not return your deposit within 10 days, he must provide a written statement justifying that he does not pay the same. If you owe money for rent, cleaning, apartment damage or other premises-related expenses, the landlord will deduct this amount. The lessor must submit a billing sheet indicating how the deductions were spent. It is a misdemeanor for the owner not to meet these requirements, and there is a fine of up to $5,000 for non-compliance.