1. Everyone who is named on the lease wants to move out/end their tenancy.
OPTION #1 Give Notice: You will need to provide at least 60 days’ notice from the last day of your rental period (e.g., if you pay rent on the first day of each month, you would need to provide at least 60 days’ notice from the last day of the month) and provide your landlord with a signed Form N9.
OPTION #2 Request Expedited Termination: You can request that the landlord agree to terminate your tenancy with less than 60 days’ notice by way of a Form N11, but the landlord is not required to agree to this.
OPTION #3 Re-assign Your Tenancy: You can ask for permission to assign your lease to another person/group of people. In this scenario, you would attempt to locate another qualified person or group of people to take over the lease and present them to the landlord as a potential replacement. If you receive permission to try to find a suitable candidate to take over your lease, please have them apply using the instructions found here: https://landlord.net/apps. Please also be sure to read the below notes about the assignment process:
- The landlord has the right to refuse your request to assign your lease, but, if they do, you will be able to end your tenancy with at least 30 days’ notice.
- The landlord has the right to decline allowing a particular person or group of people to take over your lease but cannot do so unreasonably or arbitrarily.
- Per your lease agreement, there is a $200 + HST (i.e., $226) administrative fee that will be charged to you if you choose to assign your lease.
OPTION #4 Sublet: You can ask the landlord for permission to sublet your unit. In a sublet scenario, the expectation is that you will be moving back into the unit at some point and the tenancy will continue to be in your name. You would continue making the rent payments and would be responsible for communicating to the landlord any maintenance requests or concerns related to the tenancy. The landlord will not be involved in any agreements made between yourself and your subtenant, and you will continue to remain fully responsible for the unit.
- If you would like to sublet your unit, you will still need to receive the owner’s permission to do so. In light of this, please have the proposed subtenant(s) apply using the instructions found here: https://landlord.net/apps
- For us to consider your sublet application, you will first need to reach out to your condo management office to obtain their written permission for the sublet to occur. We require this because many condo buildings in Toronto prohibit sublets.
2. Not everyone who is named on the lease wants to move out/end their tenancy.
OPTION #1 Request a Substitution: The person who wishes to move out of the unit can request the landlord’s permission to transfer their interest in the joint tenancy to another party. The landlord has the right to decline this request. If the request is approved, it will be the responsibility of the current tenants to present to the landlord a viable replacement candidate. If approved, the outgoing tenant will have their name removed from the lease, and the name of the incoming tenant will be added to the lease. If you receive permission to assign your interest in the joint tenancy to another person, please have the candidate apply using the instructions found here: https://landlord.net/apps. Please also be sure to read the below notes about the substitution process.
- In addition to obtaining the landlord’s consent, all parties named on the lease must agree to this change and provide consent for the replacement candidate to be added to the lease.
- Per your lease agreement, there is a $200 + HST (i.e., $226) administrative fee that will be charged to you if you choose to assign your interest in the joint tenancy to another person.
OPTION #2 Sublet: The tenant who wishes to move out of the unit can request permission to sublet their room. In this case, the tenant will remain fully responsible for the rent, for communication with the landlord, for any damages to the unit, etc. For a sublet to take place, the landlord must consent to the sublet and the other tenants must also consent to having the subtenant move into the unit. If you have received permission to sublet your room from both the landlord and your co-tenants, please have the proposed subtenant(s) apply using the instructions found here: https://landlord.net/apps
- If you would like to sublet your unit, you will still need to receive the owner’s permission to do so. In light of this, please have the proposed subtenant(s) apply using the instructions found here: https://landlord.net/apps
- For us to consider your sublet application, you will first need to reach out to your condo management office to obtain their written permission for the sublet to occur. W require this because many condo buildings in Toronto prohibit sublets.
OPTION #3 Request Removal From Lease: The tenants who wish to remain in the unit/continue the tenancy can apply to continue the tenancy without having any new names added to the lease. If approved, the outgoing tenant’s name would be removed from the lease, and no new names would be added.
- If you are interested in applying to hold the lease on your own, please follow the instructions found here: https://landlord.net/apps
- Per your lease agreement, there is a $200 + HST (i.e., $226) administrative fee that will be charged to you if you choose to re-apply to have one tenant’s name removed from the lease.