In a lease, the lessor retains the ownership of the asset for the time duration mentioned while the lessee gets the right of usage of the asset. The right to sublet the asset including property is usually decided by the parties and written down in the lease agreement.
Your Real Estate Lawyer will consult with you to understand your specific situation before moving on the lease agreement process. They will negotiate and draft a personalized lease agreement on behalf of the tenants and landlords.
Complex lease agreements may be needed as per the circumstance. Your Real Estate Lawyer can help you resolve any issues which may crop up between landlords and tenants. They will also support you in navigating the Residential Tenancies Act and the Commercial Tenancies Act of Ontario.
A lease agreement is implied to be in force if the parties conduct themselves as if the lease is in effect, even though it may not have been signed formally.