When it comes to terminating a sublease agreement in Ontario, there are a few things you need to know to ensure a smooth and legal process.
Firstly, it`s important to understand that a sublease is an agreement between a tenant (the sublessor) and another person (the sublessee) who rents all or part of the unit from the tenant. In Ontario, subleasing is legal as long as the original lease agreement permits it. However, terminating a sublease agreement can be more complicated than terminating a regular lease agreement.
Here are the steps you should follow to terminate a sublease agreement in Ontario:
1. Review the original lease agreement: Before you terminate a sublease agreement, you need to review the original lease agreement between the landlord and the tenant (sublessor). This will give you a better understanding of the terms and conditions surrounding your sublease agreement.
2. Give notice: The sublessor must give the sublessee notice of termination at least 30 days before the end of the sublease term. This notice must be given in writing and should include the date of termination and the reason for termination.
3. Notify the landlord: The sublessor should also notify the landlord that the sublease agreement will be terminated. This is important because the landlord may have specific requirements or procedures that must be followed when terminating a sublease agreement.
4. Get the consent of the landlord: The landlord must give their consent to the termination of the sublease agreement. This is because the sublessee is technically still occupying the landlord`s property, even though they have a sublease agreement with the sublessor.
5. Sign a termination agreement: It`s important to have both the sublessor and sublessee sign a termination agreement to document that both parties agree to end the sublease agreement. This agreement should include the date of termination, any terms for returning the keys and vacating the unit, and any other relevant details.
6. Follow up with the landlord: Once the termination agreement has been signed, the sublessor should follow up with the landlord to ensure that the sublessee has vacated the unit and returned the keys.
In conclusion, terminating a sublease agreement in Ontario requires careful attention to detail and adherence to legal requirements. By following these steps, you can ensure a smooth and legal termination of your sublease agreement.