Glossary
Definitions of terms commonly used in OntarioLandlord and Ontario landlord-tenant law.
A
Above Guideline Increase (AGI)
A rent increase that exceeds the annual guideline percentage. Requires LTB approval.
Arrears
Unpaid rent that is past due. Calculated as total rent owed minus total payments received.
Application
A formal request filed with the LTB to resolve a dispute or issue. Examples: L1, L2, T1, T2.
C
Cap Rate (Capitalization Rate)
Net Operating Income divided by property value. Used to evaluate investment returns.
Capital Cost Allowance (CCA)
Tax depreciation claimed on rental property and certain assets.
E
E-transfer
Electronic funds transfer (Interac e-Transfer). Common method for rent payment in Canada.
Evidence Bundle
A compiled PDF package of documents prepared for LTB hearings.
F
Fixed-Term Lease
A lease with a specific end date. After the end date, automatically converts to month-to-month.
G
Guideline (Rent Increase)
The maximum percentage landlords can increase rent annually without an AGI. Set by Ontario government each year.
L
L1 Application
LTB application to evict a tenant for non-payment of rent.
L2 Application
LTB application to end a tenancy for reasons other than non-payment.
Landlord and Tenant Board (LTB)
Ontario tribunal that resolves disputes between landlords and tenants under the RTA.
Lease
A legal agreement between landlord and tenant for the rental of a property.
Ledger (Rent Ledger)
A record of all rent charges and payments for a lease, showing running balance.
M
Month-to-Month Tenancy
A tenancy with no fixed end date that continues monthly until properly terminated.
N
N1 Notice
Notice of Rent Increase. Requires 90 days notice.
N4 Notice
Notice to End a Tenancy for Non-payment of Rent. Requires 14 days notice.
N5 Notice
Notice to End a Tenancy for Interference, Damage, or Overcrowding.
N6 Notice
Notice to End a Tenancy for Illegal Acts or Misrepresenting Income.
N7 Notice
Notice to End a Tenancy for Causing Serious Impairment of Safety.
N12 Notice
Notice to End a Tenancy Because Landlord, Purchaser, or Family Member Requires the Unit.
N13 Notice
Notice to End a Tenancy Because of Demolition, Conversion, or Repairs.
Net Operating Income (NOI)
Total rental income minus operating expenses (excluding mortgage).
O
Ontario Standard Lease (OSL)
The mandatory lease form for most residential tenancies in Ontario.
OSL Extraction
The process of using AI to automatically extract data from uploaded OSL documents.
P
Payment Suggestion
A bank transaction that the system suggests may be a rent payment, awaiting confirmation.
Plaid
Third-party financial technology service that enables secure bank connections.
Property
A physical address containing one or more rental units.
R
Rent Control
Ontario regulations limiting how much rent can be increased annually.
Rental Period
The regular interval for which rent is paid, typically monthly.
Residential Tenancies Act (RTA)
Ontario law (2006) governing landlord-tenant relationships.
Right of First Refusal
Tenant's right to return to a unit after certain terminations (N13 for repairs).
S
Service (of Notice)
The legal act of delivering a notice to a tenant.
Standard Order
A typical LTB order requiring tenant to pay or vacate.
T
T776 (Form)
CRA form used to report rental income and expenses on tax returns.
Tenancy
The relationship between landlord and tenant; the period of occupation.
Tenant
A person who rents a residential unit from a landlord.
Termination Date
The date specified on a notice when the tenancy would end.
U
Unit
An individual rentable space within a property (apartment, house, room, etc.).
V
Voiding (a Notice)
When a tenant's actions (like paying arrears) cancel the effect of a notice.
Void Period
The time during which a tenant can take action to void a notice (e.g., 7 days for first N5).
Abbreviations
| Abbreviation | Full Form |
|---|---|
| AGI | Above Guideline Increase |
| CCA | Capital Cost Allowance |
| CRA | Canada Revenue Agency |
| LTB | Landlord and Tenant Board |
| NOI | Net Operating Income |
| OSL | Ontario Standard Lease |
| RTA | Residential Tenancies Act |