Navigating the New Changes to Ontario’s Commercial Tenancies Act
The Ontario government recently made updates to the Commercial Tenancies Act to address challenges brought by the evolving economic landscape. For landlords and tenants, these changes are crucial for understanding rights related to rent payments, eviction rules, and lease modifications.
The amendments now provide new guidelines for evictions related to non-payment of rent, particularly taking into account situations affected by the aftermath of the pandemic. Landlords must provide additional notice periods and explore mediation options before proceeding with eviction.
For commercial tenants, this could mean an opportunity to negotiate more favorable lease terms. It’s essential to understand the new obligations and leverage them in rent negotiations. Staying informed about these changes can prevent misunderstandings and costly disputes between parties. Contact us to understand how these changes impact your lease agreements and commercial property management.
