Does a residential lease that was originally listed on the MLS get registered the same way a sale does? In other words, can you look it up after to see how much the property was rented for?
Third parties are deemed to have knowledge of the rental of properties for periods up to 3 years.
So, if you are the Tenant and you have a 5 year Lease then you may wish to consider registering it in order to give notice of years 4 and 5.
The Lease itself is not registered (although it could be) just a Notice of Lease.
Essentially, this really only applies to commercial tenancies since residential tenancies have security of tenure specified under the Residential Tenancies Act.
Brian Madigan LL.B., Broker