What is the most important term to understand in a lease?

The termination clause is often the most critical — it determines how and when either party can end the lease. Security deposit terms are a close second, as disputes over deposits are the most common landlord-tenant conflict.

What does 'joint and several liability' mean in plain English?

If you share a lease with roommates under joint and several liability, each of you is individually responsible for the entire rent — not just your share. If a roommate doesn't pay their portion, the landlord can pursue any one tenant for the full amount.

Is a guarantor the same as a co-signer?

They're similar but not identical. A guarantor typically pays only if the tenant defaults, while a co-signer is equally liable from the start. In practice, many landlords use the terms interchangeably. Check your specific agreement's language.

Do all lease terms apply regardless of what my lease says?

No. In most Canadian provinces and US states, certain tenant rights exist by law and cannot be waived by a lease clause. For example, landlords cannot legally withhold a security deposit for normal wear and tear, even if a lease clause suggests otherwise. Understanding applicable law in your jurisdiction matters as much as reading your lease.

Lease Glossary

Plain-English definitions of every term you might encounter in a residential lease. Know what you're signing before you sign it.

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Financial

Terms related to money, deposits, fees, and rent

8 terms

Duration

Terms about lease length, renewal, and end-of-tenancy

6 terms

Obligations

Terms about tenant and landlord responsibilities

7 terms

Special Clauses

Specific legal provisions and tenant rights

3 terms

Financial Terms

Security Deposit Medium Rent Increase High Late Fees Medium Grace Period Low Last Month's Rent (LMR) Deposit Medium Above-Guideline Increase (AGI) High Rent Control High Tenant Insurance Low

Duration Terms

Termination Clause High Lease Renewal Medium Holdover Tenant High Notice to End Tenancy High Eviction High Renoviction High

Obligations Terms

Occupancy Limits Medium Maintenance Clause Medium Subletting Medium Guarantor High Joint and Several Liability High Lease Assignment Medium Condition Inspection Report Medium

Lease Glossary

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