2-ppl on Rental Lease, now 1-person moving out - Does this void the current lease?
I'm in Toronto.
I have had a couple rent my place for a few years.
Now, one partner has indicated she will be leaving, but the other partner will be staying (another casualty of covid? I know - not my business!)
My question is: does this void the current lease? (both their names were listed on the original lease)
Am I legally obligated to continue with the remaining partner at the same rate and all the same conditions, but under a new lease with only that partner's name ?
Or do I treat this as an entirely new lease with this new partner?
When there were 2 partners, I felt their combined income and financials were sufficient for the lease application. What if I judge the single remaining partner to be financially incapable of the rent?
I have had a couple rent my place for a few years.
Now, one partner has indicated she will be leaving, but the other partner will be staying (another casualty of covid? I know - not my business!)
My question is: does this void the current lease? (both their names were listed on the original lease)
Am I legally obligated to continue with the remaining partner at the same rate and all the same conditions, but under a new lease with only that partner's name ?
Or do I treat this as an entirely new lease with this new partner?
When there were 2 partners, I felt their combined income and financials were sufficient for the lease application. What if I judge the single remaining partner to be financially incapable of the rent?