OREA Form 400: Details for Beginners
You need Form 400 OREA if you want to rent an apartment or a house or if you are a realtor who works with these forms. The main condition you have to meet to fill out the form is to live in Ontario. This document is also known as the Form 400 Lease Agreement, which a renter has to fill out and provide to a landlord.
What Is OREA Form 400?
OREA Form 400 is an Ontario-based document that is widely used among renters and real estate agencies. The form is also called Agreement to Lease Residential. It was created by the Ontario Real Estate Association. This document notifies a landlord that a tenant wants to lease an apartment or a house. Many real estate agents in Ontario call it an offer since it contains all the details of the lease that tenants find accepted.
The form is used to specify details of the agreement between the two parties. It can describe major demands from tenants or extra services like parking or garbage collection problems. This document is not the lease itself, but it is a beginning.
How to Fill Out OREA Form 400?
You can find the Form 400 fillable template online on the Ontario Real Estate Association website or on PDFLiner. If you decide to open it on PDFLiner, you will be able to fill it out online as well. Later, you will be able to save the document and keep it on your device. You will also have the possibility to send a copy of the form to the landlord via email or print it and hand it to another party. Here is what you have to include there:
- Specify the date of the agreement.
- Include the names of a tenant, a landlord, and the landlord’s address.
- Describe the premises.
- Specify the term of the lease. Don’t forget to discuss it with the landlord in advance.
- Describe the rental payments, including the monthly amount, the sum you pay in advance, and the deadline for the payment.
- Fill in the section on deposit and prepaid rent with the amount of deposit, the cheque’s address, and the sum of rent.
- Write down your intentions for the rented property. You will be able to use it only the way you describe.
- Both parties have to discuss the costs and services that come as extra payments. Put a tick near the tenant or the landlord based on this agreement. Find out who will pay for gas, electricity, oil, water, cable TV, garbage removal, and cooperative fees if there are any.
- Discuss the parking situation and the number of vehicles you have.
- If you have extra terms, you can describe them in the section below “Parking.”
- Include the information on schedules if you attach them to the form.
- Write down the data on the expiration date for the agreement if there is any.
- Share the fax number and email address for the documents.
- Put the tenant’s and landlord’s initials.
- The form must be signed by the tenant, landlord, and witnesses before it becomes official and can be used in court.
- If you use third-party services such as a salesperson or a broker, there is a separate section that contains information on brokerage.
- Provide details in the Acknowledgement section, including information on the landlord, tenant, address, names of lawyers if there are any, emails, and phone numbers.
- You can attach schedule A to the document to specify the property you want to lease and the date you fill out the document.
How to Sign OREA Form 400?
There are several ways to sign the Ontario Lease Agreement OREA 400 blank which you can try. They are all offered in the PDFLiner editor. You might consider following the next steps:
- Use the editor to write your name in the signature section, pick the font you want, and choose the style so that PDFLiner turns it into the e-signature recognized by the law.
- You can use drawing tools and use a touchpad or a mouse to draw the signature you want.
- If you have already created the signature, you can simply download it and add it to the document.
- Use your phone’s camera to take a picture of your signature and download it as a file from your device.
- You can fill out the form online, download it, and print it out. Once you’ve done it, sign the document manually in the appropriate sections.
OREA Form 400 vs. Ontario Standard Lease Form
If you don’t know the difference between the OREA 400 and Ontario Standard Lease forms, you are not the only one. They have numerous similarities and are related to each other. You have to keep in mind that you need to complete both forms at different stages of the agreement.
The first comes OREA 400, which some people call an offer. It brings an offer to a landlord from a tenant. If everything goes smoothly and the landlord agrees to the conditions, the tenant makes the deposit for the specific period. Then the landlord sends the Standard Form of Lease. This is the final document that proves the relationship between the tenant and the landlord.
OREA Form 400: Easy to Complete and Use
Form OREA 400 is one of the most popular Ontario-based forms used among tenants and landlords. It contains a proposition from a tenant which is later sent to a landlord who can agree to it and sign the document or refuse. You can find the editable template on pdfliner.com. The form is simple and easy to complete.