In Ontario, a lease doesn't mean much. It only provides protection to tenants (they can't be evicted during this period) while tenants can break the lease with no penalties at all.
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To add to Thomas' advice, make sure they sign an N11 form effectively ending the previous tenancy and then sign the lease with new amount. This is key to avoid the tenant turning around and saying they did not agree to that at the LTB.
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I'm in Ontario as well. I only accept first and last month's rent in the form of guaranteed funds such as eTransfer, certified cheque or cash (less desirable). That way I don't run into issues of cheques bouncing. This is done at the time we sign the lease. I also send the lease a couple of days...
Is this in Ontario? If so, did you guys sing an N11 agreeing to end the tenancy? Or did they provide an N9 requesting to end tenancy?
If you have any of these documents then you can file at the LTB and request an eviction order. Unfortunately it takes a while as well so won't be ready for...
Follow the condo rules otherwise you may end up with bigger issues with both the board and the tenant. If the tenant's pet will interfere with the rules then they're not the right tenant.
Good luck finding the right tenant.
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I thought of reiterating Kfort's advice. Do not give a reason as innocent or genuine as it may be even if the tenant asks.
You can choose to let them know the place has been now rented or the place is no longer available (if that is true) or the rental application was not approved (my least...