The Rental Release Form is an essential document in Canadian residential property management, used when terminating a lease agreement between landlord and tenant. This document becomes necessary when either party wishes to formally end the rental relationship, whether at the natural conclusion of the lease term or through mutual agreement for early termination. The form includes critical elements such as property condition assessment, security deposit reconciliation, and mutual release of future claims, all while ensuring compliance with provincial residential tenancy legislation. It serves as legal protection for both parties by clearly documenting the terms of lease termination and preventing future disputes. The document must be tailored to meet specific provincial requirements, as landlord-tenant relationships in Canada are primarily governed by provincial law, with variations in requirements between jurisdictions.
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1. Parties: Identification of the landlord and tenant, including full legal names and contact information
2. Background: Brief description of the original rental agreement, property address, and reason for release
3. Definitions: Key terms used in the document including 'Property', 'Lease Agreement', 'Release Date', etc.
4. Property Inspection: Statement regarding the condition of the property and any noted damage or wear
5. Security Deposit: Details of security deposit handling, including amount to be returned or withheld
6. Mutual Release: Core release language where both parties release each other from future claims related to the tenancy
7. Return of Keys: Confirmation of return of all keys and access devices
8. Personal Property: Statement regarding removal of tenant's personal property from the premises
9. Execution: Signature block with date and witness provisions
1. Early Termination Fee: Include when the release involves early termination of a fixed-term lease
2. Damage Settlement: Include when there are specific damages being settled as part of the release
3. Outstanding Utilities: Include when there are utility payment reconciliations needed
4. Future Reference: Include when parties agree on terms for future rental references
5. Forwarding Address: Include when specific arrangements for future communications are needed
6. Surviving Obligations: Include when certain obligations survive the release (e.g., confidentiality)
1. Schedule A - Property Condition Report: Detailed documentation of property condition at time of release
2. Schedule B - Security Deposit Calculation: Itemized list of any deductions from security deposit
3. Schedule C - Photographic Evidence: Photos documenting property condition at release
4. Appendix 1 - Original Lease Agreement: Copy of the original lease agreement being terminated
5. Appendix 2 - Settlement Calculation: Detailed calculation of any financial settlements included in the release
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Management
Residential Housing
Property Investment
Property Development
Student Housing
Corporate Housing
Legal Services
Relevant Teams
Legal
Property Management
Leasing
Operations
Tenant Relations
Administration
Compliance
Asset Management
Residential Services
Relevant Roles
Property Manager
Leasing Manager
Real Estate Agent
Legal Counsel
Tenant Relations Coordinator
Housing Administrator
Building Manager
Real Estate Administrator
Compliance Officer
Property Administrator
Lease Administrator
Asset Manager
Residential Services Manager
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