Index
- What is a life lease?
- If a tenant enters into a life lease, do they own their unit?
- Does a life lease tenant have any say in how the complex is run?
- Does a landlord have to register anything to show that there are life leases in a building?
- What does the Residential Tenancies Branch do?
- What does the tenant have to pay to enter into a life lease?
- What is important to know about a pre-lease payment?
- Can a landlord ask a tenant to pay a security deposit as well as an entrance fee?
- Does the landlord have to give the tenant a receipt for these payments?
- How does a landlord decide how much the entrance fee will be?
- What is a tenant’s extra?
- What must the landlord tell the tenant before accepting an entrance fee?
- Is there additional information the landlord must give the tenant when construction of the life lease complex is not yet completed?
- Does the tenant need to see a lawyer before signing the lease?
- Can a tenant cancel after they’ve signed the life lease?
Cancellation Rights When the Construction of the Life Lease is Not Completed
- What can a tenant do if their unit isn’t ready by the date the landlord promised?
- What kind of insurance must the landlord have on a life lease complex?
- Does the landlord have to give the tenant a copy of the life lease agreement?
- What happens if there’s a conflict between the life lease agreement and The Life Leases Act or The Residential Tenancies Act?
- If a landlord and tenant have a question or dispute how can they get help?
Refundable Entrance Fees and Refund Funds
- What is a refund fund?
- Is a landlord required to have a refund fund?
- Are all entrance fees refundable?
- What is the tenant of a new life lease complex entitled to know about the refund fund?
- If an entrance fee is refundable, when does the landlord have to refund it to the tenant?
- What is a tenant’s priority date?
- Why does a tenant need a priority date?
- If there isn’t enough money in the refund fund, what happens next?
- Can the landlord use money from a refund fund for something other than refunding entrance fees?
- After a life lease tenant moves out, can a landlord keep any of the entrance fee to pay for damages or unpaid rent?
- What is a reserve fund?
- Is every life lease complex required to have a reserve fund?
- Can a landlord use a reserve fund for anything other than major repairs?
Investment of Refund Fund and Reserve Fund
- Is a landlord permitted to invest the refund fund or the reserve fund?
- Do landlords of all life lease complexes have to hold an annual meeting?
- How will a tenant know if their comments and questions are being heard?
- How much notice of an annual meeting does the landlord need to give the tenants?
- What types of financial reports must the landlord give the tenants with the notice of meeting?
- How can a non-profit landlord increase rent?
- What can a tenant of a non-profit complex do if they think the rent increase is too high?
- What does the Residential Tenancies Branch do if a tenant asks for a review of the rent?
- What happens when the Residential Tenancies Branch finishes the review of the rents?
Termination of Life Lease by the Tenant
- How does a tenant terminate their life lease?
- Can a tenant terminate a life lease with less notice if there are special circumstances?
- Does a tenant’s notice of termination need to be in writing?
- What does it mean to assign a life lease?
- Can any tenant assign their life lease to someone else?
- Why would a life lease tenant assign their lease instead of simply giving notice of termination to the landlord?
- Before a life lease is assigned, is the new tenant supposed to get any information?
- Is it true that the new tenant (assignee) doesn’t have to pay the current tenant their entrance fee until their cancellation period ends?
- Can a tenant accept more money from the assignee than the tenant originally paid as an entrance fee?
- When the term of a lease is “for life” does the assignee get the same term?
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