Buchan6

Like most newbies we decided to rent and were "tied" to a 12 contract that most renters tend to insist on over here. 60 days notice is required to cancel the contract.

The contract is a standard one drafted by the realtor (Royal Le Page)

My question is how legally binding is the contract if we wish to pull out after for example 9 months ?

Look forward to the usual helpful responses.

iaink

In reality it will depend on the rental market. If the landlord can get someone in quick to take the place, it probably wont be a problem.

Alberta_Rose

It might also depend on how nice and understanding the landlord is! I expect so long as you can give notice so they get someone else in without too much expense on their part they will probably let you wriggle out.

dentaltech

where exactly are you ? if you were near or in newmarket perhaps there was some way we could finish the 3 months rent ??? wild idea i know but i am ever hopeful

Buchan6

Have PM'ed you !

montreal mike

What I write might not apply to you but in Quebec there is a standard sublet clause. You find someone to take over the lease and landlord agrees to transfer (best case scenario since you are off the hook) or

You sublet, collect the rent and remit to landlord (not so good since you are still responsible).

If a sublet, you are not obliged to collect what you pay in rent, you can take a small loss, it might be worth your while to get you out of a jam.

However, just remember the new tenant will enjoy a short term benefit only since he will have to pay full rent once your lease expires.

As I say, these scenarios might not apply in your case.

What is paramount here is that the Landlord must not lose money. That is all he should care about.

Buchan6

Thanks Mike,
Will look at a sub lease option, company I work for has people coming and going all the time.

Difficult to answer without seeing the draft contract but how legally binding are these realtor contracts ?

montreal mike

I assume your contract is with the landlord and the realtor is a middle man. Irrespective, all contacts. if legal to begin with, are binding. If you default you could be sued. If you lose it could affect your credit rating.

(In Quebec we have a rental board which resolves such issues. I do not know what happens in your province.)

When you rent elsewhere you may be asked who was your former landlord. So better to leave amicably.

tim hortons man

Generally speaking if you can find someone to rent it the landlord won't hold you to it. Also I've never heard of anyone being taken to court becuase they moved before the end of a contract.

Buchan6

Thanks, hopefully I want to leave it amicably, but if the house owner see's his a**e because I will leave before 12 months are up then I'd like to be aware of the consequencies.

Will be returning to the UK and unlikely to return for the foreseeable.