Realtor Education Seminar: Mortgages and Leases presented August 8, 2018 at RBC, Richmond Hill, Ontario, Canada by Landmark Law Professional Corporation Contents of this presentation is for information purposes only and does not provide legal advice or create a lawyer-client relationship with the viewer.

1. Realtor Education Seminar:
Mortgages & Leases
Landmark Law Professional Corporation
Winnie J Luk, Founder & Principal Lawyer
Copyright 2018 Landmark Law Professional Corporation 陸韻玲律師行
Tel | SMS | 微信: (647) 797 8LAW (8529)

2. Disclaimer
The contents of this presentation is for
information purposes only and does not
provide legal advice or create a lawyer-client
relationship with the viewer.
Copyright 2018 Landmark Law Professional Corporation 陸韻玲律師行
Tel | SMS | 微信: (647) 797 8LAW (8529)

3. Overview
Mortgages
Updates re Leases/Tenancy Act
 Ontario Standard Lease
 Landlord Possession for Own Use
 Rent Control
 Legalization of Recreational Marijuana
Commercial Lease
 Offer to Lease / Letter of Intent
 Common Issues
 Q & A
 Lucky Draw
Copyright 2018 Landmark Law Professional Corporation 陸韻玲律師行
Tel | SMS | 微信: (647) 797 8LAW (8529)

4. Mortgages
Purchase
• Lawyer’s Request for Funds
• Registered Amount / Prime rate
Sale
• Lawyer’s Request for Discharge Statement
• Marital Property: Spousal Consent, ID verification (incl. POA)
• ILA from Spouse/Guarantor: seek independent lawyer to discuss transaction risks
(often required by lender)
• ILR for Private Mortgages and Separation Agreement (Spousal Buy-out)
• Second Mortgage: Borrower must check whether bank permits second mortgage
Copyright 2018 Landmark Law Professional Corporation 陸韻玲律師行
Tel | SMS | 微信: (647) 797 8LAW (8529)

5. Ontario Standard Lease
(April 30, 2018)
• Mandatory for residential leases
• Tenant can request it and receive it w/in 21 days or
• w/hold 1 mos rent or give 60 days notice to terminate lease
• reduce illegal terms in leases and misunderstandings
• reduce disputes and legal action
• Easy to read; guidebook in 21 languages
Copyright 2018 Landmark Law Professional Corporation 陸韻玲律師行 Tel | SMS | 微信: (647) 797 8LAW
(8529)

6. Copyright 2018 Landmark Law Professional Corporation 陸韻玲律師行
Tel | SMS | 微信: (647) 797 8LAW (8529)
• Guidebook: https://www.ontario.ca/page/guide-ontarios-standard-lease-newcomers
•中文 (简体) (Chinese (Simplified) PDF)
•中文 (繁體) (Chinese (Traditional) PDF)
•‫فارسی‬ (Farsi PDF)
•‫عربي‬ (Arabic PDF)
•Deutsch (German PDF)
•ελληνικά (Greek PDF)
•ગુજરાતી (Gujarati PDF)
•हिन्दी (Hindi PDF)
•Italiano (Italian PDF)
•한국어 (Korean PDF)
•Polski (Polish PDF)
•Português (Potuguese PDF)
•ਪੰਜਾਬੀ (Punjabi PDF)
•Română (Romanian PDF)
•русский (Russian PDF)
•Español (Spanish PDF)
•Tagalog (Filipino (Tagalog)PDF)
•தமிழ (Tamil PDF)
•Українська (Ukrainian PDF)
•‫اردو‬ (Urdu PDF)
•Tiếng Việt (Vietnamese PDF)
Ontario Standard Lease
(April 30, 2018)

7. Landlord Termination for Own Use
(September 1, 2017)
1. Owner, parents, spouse, child (min occupancy 12 mos)
2. End of tenant’s term (N12 Form 60 days Notice)
3. Compensation: 1 month rent
• Solution: Tenant leaves voluntarily / find alternative unit
consented by Tenant / Settle
• bad faith w/in 1 yr (max penalty $25K) :
• advertising for rent/sale,
• enter into new lease w/someone else,
• demolishes/convert to non-rental
Copyright 2018 Landmark Law Professional Corporation 陸韻玲律師行
Tel | SMS | 微信: (647) 797 8LAW (8529)

8. Rent Control
(May 30, 2017)
https://www.ontario.ca/page/rent-increase-guideline
• Landlords cannot increase rent by more than amount
in Rent Increase Guideline (published every Aug)
[2019: 1.8%]
• Even if condo fees have gone up.
• If landlord is collecting more, s/he must refund the excess.
Copyright 2018 Landmark Law Professional Corporation 陸韻玲律師行
Tel | SMS | 微信: (647) 797 8LAW (8529)

9. Legalization of Recreational Marijuana
(Oct 17, 2018)
• Similar to smoking, Landlord may prohibit smoking
of tobacco and Marijuana within new leases.
• For existing leases, tenant’s can smoke Marijuana unless
the tenant agrees to sign an amendment or condo
corporation by-laws prohibit Marijuana
• Prohibition may be potential human rights violation
for those using medicinal marijuana
Copyright 2018 Landmark Law Professional Corporation 陸韻玲律師行
Tel | SMS | 微信: (647) 797 8LAW (8529)

10. Commercial Leases
• Offer to Lease / Letter of Intent
• Binding vs Non-binding
• BOMA standard for measuring floor area
• Landlord right to relocation
• Insurance and accounting issues
• Administration Fees (ie 15%)
• Reasonable landlord expenses
Copyright 2018 Landmark Law Professional Corporation 陸韻玲律師行
Tel | SMS | 微信: (647) 797 8LAW (8529)

11. Thank You!
RSVP: LandmarkLaw.Eventbrite.ca
Invite us to Speak at your Brokerage!
Landmark Law Professional Corporation
T | SMS | Whatsapp: 647 797 8LAW (8529)
93 Worthing Ave, Markham ON L3S 4J9
Winnie@landmarklaw.ca
Copyright 2018 Landmark Law Professional Corporation 陸韻玲律師行
Tel | SMS | 微信: (647) 797 8LAW (8529)

12. Disclaimer
The contents of this presentation is for
information purposes only and does not
provide legal advice or create a lawyer-client
relationship with the viewer.
Copyright 2018 Landmark Law Professional Corporation 陸韻玲律師行
Tel | SMS | 微信: (647) 797 8LAW (8529)