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This Agreement is a document that can be used by landlords to create a payment plan to assist tenants who are currently unable to pay their full rent as previously agreed upon due to exceptional circumstances. By using this document, the new rental agreement is written down, avoiding misunderstandings and future disputes over the amount of rent.
In some cases, tenants are laid off, dismissed or find themselves in a less stable work situation. A landlord can use this agreement in letter form to make an agreement with its tenants to modify, suspend or defer the payment of rent in a way that is more manageable and realistic in the economic environment that the tenant faces.
This letter is intended for a landlord who establishes a payment plan for his tenant. For tenants who wish to apply for an extension of the rent payment due to exceptional circumstances, the Application for Extension of Rent Payment is more appropriate.
How to use this document?
This letter contains all the necessary information for a landlord to inform their tenant of a temporary rent payment plan. The letter clearly explains how the rent payment plan will work and how the deferred rent, if any, will be reimbursed by the tenant once regular rent payments resume. The letter indicates whether the rent payment will be reduced, deferred for later payment or suspended. The letter also indicates the start and, if known, end dates of the plan. It also explains how, if at all, the deferred rent will be paid, whether by a single payment or by multiple payments, and when the refund is due. The landlord may also specify whether the tenant will have to pay interest on the amount of the deferred rent payment.
Once this letter is completed with all the necessary information, the landlord must print and sign it and send it to the tenant for their signature. The tenant must sign the letter if he or she agrees to the terms, make a copy for his or her own records and return the original to the landlord. By retaining the letter, both the landlord and the tenant will be able to refer to the payment plan and how it is supposed to work in the event of a future dispute.
Landlord and tenant law is based on each Province or Territory. There are no specific laws applicable to a landlord who chooses to discount, defer or suspend the payment of rent to his tenant. However, there might be specific conditions in the original rental agreement signed by the tenant that regulate and inform such a request.
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Other names for the document: Letter of Change in Rent Payment, Rent Deferral Letter, Temporary Rent Reduction Letter, Letter of Temporary Suspension of Rent, Reduced Rent Letter
Country: Canada (English)