If you`re living in Ontario and you`re looking for a place to store your belongings, you`ll likely be presented with a storage lease agreement Ontario.
Before signing any legal document, it is important to understand what you are agreeing to. Here is a breakdown of the key points you should be aware of when signing a storage lease agreement in Ontario.
1. Rent and Payment Schedule
The first aspect to consider is the rent and payment schedule. Storage facilities usually offer flexible rental periods which can be weekly, monthly, or yearly. It is important to consider the duration of the lease as well as the rental rate. Ensure that you have a clear understanding of the payment schedule and what happens if you fall behind in your payments.
2. Access Hours and Security
The second point to look out for is the access hours and security. Storage facilities may restrict access to certain hours, usually during the daytime or early evening depending on the facility. Make sure you are aware of the hours you are allowed to access your unit. You should also inquire about the security systems in place such as surveillance, alarms, and locks.
3. Prohibited Items
It is important to be aware of the items that are prohibited from storage facilities. Items such as flammable materials, hazardous chemicals, perishable food, and living plants or animals could pose a risk to other tenants and the facility. Ensure you understand what items cannot be stored to avoid incurring any penalties.
4. Maintenance and Repairs
Storage facilities have the responsibility to ensure that the unit is maintained in good condition. Before signing a storage lease agreement, make sure you understand how the facility handles maintenance and repairs. Ask about what happens if there are damages to the unit, who is responsible, and how it will be repaired.
5. Termination of Agreement
Lastly, it is important to be informed about the termination of the lease agreement. There are various reasons why you may terminate a lease agreement such as moving out, dissatisfaction with the services or price, or other reasons. Familiarize yourself with the process of terminating the lease as well as the consequences.
In conclusion, when it comes to storage lease agreement in Ontario, it is important to read the fine print to avoid any surprises. Ensure you have a clear understanding of the rental rate, access hours, security, prohibited items, maintenance, and termination of the agreement to make a well-informed decision.