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This residential lease leans noticeably in the landlord's favour. The early-termination penalty, automatic renewal, and broad liability waiver are the clauses most worth negotiating before you sign.
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RESIDENTIAL LEASE AGREEMENT
This Lease Agreement ("Agreement") is entered into as of the date of signing
by and between the Landlord and the Tenant for the premises located at
123 Market Street, Unit 4B.
1. TERM
The initial term of this lease shall be twelve (12) months, commencing on the
first day of the month following execution.
2. RENT
Tenant shall pay monthly rent in advance, due on the first day of each month.
A late fee of $75 applies to payments received after the fifth day.
3. RENEWAL
This agreement renews automatically for successive twelve (12) month terms
unless written notice is given at least 90 days before expiry.
4. EARLY TERMINATION
The tenant shall pay a penalty equal to 50% of the remaining annual rent upon
any early termination, regardless of cause.
5. MAINTENANCE
The landlord shall maintain all structural, plumbing, electrical, and heating
systems in good working order at their own expense.
6. LIABILITY
The landlord shall not be liable for any damage, injury, or loss to the tenant
or their property under any circumstances.
7. SECURITY DEPOSIT
The security deposit, less any lawful deductions, shall be returned within 30
days of the tenant vacating the premises.Ask about this document
Answers are grounded in your contract.
The tenant shall pay a penalty equal to 50% of the remaining annual rent upon any early termination, regardless of cause.
Half a year's rent is an unusually large exit fee, and "regardless of cause" removes the usual exceptions for job relocation, unsafe conditions, or landlord breach.
Recommendation
Negotiate a fixed 1–2 month fee and add carve-outs for relocation and uninhabitable conditions.
The landlord shall not be liable for any damage, injury, or loss to the tenant or their property under any circumstances.
"Under any circumstances" attempts to waive liability even for the landlord's own negligence, which is often unenforceable but signals an aggressive contract.
Recommendation
Limit the waiver so it excludes the landlord's negligence and willful misconduct.
This agreement renews automatically for successive twelve (12) month terms unless written notice is given at least 90 days before expiry.
A 90-day window is easy to miss and locks you into another full year. Most tenant-friendly leases use 30 days.
Recommendation
Shorten the notice window to 30 days and set a calendar reminder before the deadline.
The security deposit, less any lawful deductions, shall be returned within 30 days of the tenant vacating the premises.
A 30-day return window is standard and reasonable. Deductions must still be itemised, which protects you.
Recommendation
Document the unit's condition with photos at move-in and move-out to support a full return.
The landlord shall maintain all structural, plumbing, electrical, and heating systems in good working order at their own expense.
This is in your favour — major systems are the landlord's responsibility, limiting your repair costs to minor wear and tear.
Recommendation
Keep written records of any repair requests so the obligation is easy to enforce.