Renting out a property in Ontario
The standard lease Ontario requires, and the tax forms that follow from rental income.
A small landlord with one or two units. Ontario mandates a standard form of lease for most residential tenancies, and it is filled in fresh for every tenant.
The standard lease
Required for most private residential tenancies in Ontario. The same document, refilled for each tenant, which is the repeat that makes it worth automating.
Reporting the income
Rental income is reported to the CRA, and a payment to a non-resident owner has its own slip.
If you use an agent
Somebody dealing with the CRA on your behalf is authorised on a form, and un-authorised on its counterpart.
Worth knowing
Which tenancies the standard lease covers, and what may be added to it, are set by Ontario's residential tenancies legislation. We do not advise on that, and a clause that conflicts with the Act is void whatever the lease says.
Fill in the copy you have
Already downloaded it? Bring that file and we'll fill it in. It works the same for a form nobody publishes: a benefits enrolment, an employer's payroll form, anything with boxes in it.