Virtually every lease will predict what will happen if the tenant is late. Most of the time, the rental agreement provides for a notice period in which the lessor must provide the tenant with written notification of the delay and the time limit for remedying the delay before the lessor can take further action. Landlords and tenants should be aware that these notice periods must be strictly adhered to. Failure to comply with the termination provisions could invalidate the lessor`s exercise of a remedy such as seizure (seizure of certain rental properties for the execution of the sums to be paid under the rental contract) and expose the lessor to liability for damages suffered by the tenant. Alternatives If you terminate a tenant`s lease, you can still claim damages from the tenant, but you cannot use the means of distress. You may prefer to use emergency assistance for unpaid rent if you do not have potential tenants interested in the premises and if the tenant has enough goods on site to make up for the delay. The first thing lawyers would do would be to understand the situation and check your first contact. You would then have advice on whether you have legal reasons to terminate the commercial lease prematurely and how best to do so. Exemption from Termination Your tenant has the right to file an application for relief against the termination with the Ontario Superior Court[3] and the court may grant such facilitation as it deems appropriate. [4] If the delay involves rent, it is likely that a tenant will have their lease reimbursed if they pay for the delay. So, if you go through this process, make sure that the tenant is not able to pay the rent arrears. This can be done through an acceleration clause in the lease agreement, which would make the next three-month rent immediately payable.
A reference to the waiver Owners must be careful not to waive the right of termination. The right of termination may be waived if the lessor is aware of the tenant`s breach and acts in some way to confirm the maintenance of the rental agreement, for example by continuing to accept rents or exercising the right to distress (note that non-waiver clauses do not protect the lessor in these cases, or communications indicating that: that the rent is accepted free of all). A cancellation agreement is a document containing a formal record of the termination of a contract. .