I will be renting out a garage in Ontario (Hamilton) and I plan on using the REIN standard commercial/warehouse/garage contract. As a residential landlord I am use to asking for 1st and last months rent. Is this legal or the norm with commercial contracts. There is also a space for security deposit. What is this. How much can I ask for.
The appeal of a commercial lease is I can evict the tenant right away if they miss on rent. Would collecting last month's rent or a large security deposit undo this advantage.
The appeal of a commercial lease is I can evict the tenant right away if they miss on rent. Would collecting last month's rent or a large security deposit undo this advantage.
