Renting Question


#1

I have been looking at apartments for rent in Southern BC and most say a ‘Full-term Lease’ is required. I assume this means you have to sign a one-year lease to start. But once the year is over does it usually go on a month-to-month basis?
I have rented in PR but it has always been month-to-month.


#2

Any lease I had turned month to month after the lease period expired. I suppose they could require you to sign a new lease but I’ve never heard of it.


#3

A “Full-term Lease” is usually thought to mean an lease that cannot be ended before the period of time (the term) is over. Or, if you or the landlord end the lease before the term is completed, there will be financial penalties that must be paid.

This language is often found in leases that run for a year or more. What you need to do is read the lease contract and make sure that you understand what it says. If you are unsure of the meaning of the lease contact, get some help from a reputable organization such as the BC Residential Tenancy Branch.

The contract may also have a series of clauses in it that define how the lease may be renewed. Often, the contract will be said that it can be renewed by mutual consent upon written agreement prior to the expiration of the existing lease. The contact may also define the date or time period (i.e. 2 months before the expiration of the lease) by when the lease agreement must be mutually agreed to be renewed. This is can be really important if you plan on staying an additional year. More than one person has neglected to renew their lease by the stated date - with rather sad consequences.

In any case, please, please, please get some help if you are unsure what the contract means. You can save yourself, and the landlord a lot of heartache and needless misunderstanding if you do a little homework.


#4

My first apartment I lived in I had to sign a one year agreement. Following that, I had to sign another one year agreement. However, the apartment that I’m at now I signed a one year agreement and following that it’s a month to month basis with no signing contract. But recently the apartment company sold it to another company. I’m not sure if they will continue that for new residents but the people already living here have continued with that.


#5

Thanks for all the info.


#6