Leases, deposits & guarantors

The lease

A lease can be verbal, but get a written one. It should state the names, address, rent, due date, what is included, the period and notice terms.
Read the clauses on house rules, subletting, visitors, damages and penalties.

The deposit

Under section 5 of the Rental Housing Act, the landlord may ask for a deposit, must put it in an interest-bearing account at a financial institution, and the rate can not be lower than a normal savings account.
You are entitled to the deposit plus interest when you move out, minus agreed deductions for damages and unpaid rent. Law explainers say the refund is due within 7 to 21 days after you move out, depending on whether there is a joint inspection. Confirm the exact timing in the Act.
Ask for proof of the interest earned at any time.
Do a move-in and move-out inspection with the landlord, and keep your photos.
Keep a receipt for every payment (the Act requires receipts for rent and deposit).

Leases and early cancellation

A fixed-term lease normally covered by the CPA can be cancelled with 20 business days' written notice, but the landlord may charge a reasonable cancellation penalty (see the law-firm explainers below). The CPA does not apply in every case (for instance, where the landlord isn't letting in the ordinary course of business, or the tenant is a large juristic entity).
If you only need the room for 10 months, ask for a 10-month lease.

Guarantor

Many landlords ask a parent or relative to sign as surety or guarantor. This means they become liable if you do not pay. They should read the whole lease, and understand it can include unpaid rent and damages.

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