Cover of the Owner-Resident Agreement document

Unlocking Your Ownership With Our Key Owner-Resident Agreement

Welcome to Key! We're thrilled that you're considering becoming part of our community. The Owner-Resident Agreement (ORA) has everything you need to understand our mutual responsibilities and commitments for your Co-Ownership with the Key Trust.

There's a lot to review so we created this digital guide to make it as easy to understand as possible.

Experience the Digital Guide We're also only a quick click away if you have any questions we can help with.

Understanding the Entities

It's helpful to understand our corporate structure before reading the ORA since the three entities are referenced in the agreement.

key entities diagram

Here's everything that's covered in the ORA

  1. 01.

    Financial Commitment

    This section of the Owner-Resident Agreement (ORA) summarizes the initial costs associated with your Key Co-Ownership, and explains how the Co-financing Benefit and your Residency Payments work.

  2. 02.

    Managing Your Co-Ownership Interest

    You can easily increase your Home Equity with Key any month and in any amount you like, the choice is completely yours. This section outlines how that works.

  3. 03.

    Living at Key

    Outlines everything you need to know about living in your Suite, including short-term rentals and what happens when you're ready to move out. (We'll miss you!)

  4. 04.

    Maintaining Your Key Suite

    Details for keeping your Suite in good condition, getting help with maintenance, insurance coverage, and understanding what to do if you have any Suite damages or losses.

  1. 05.

    Dispute Resolution and Termination

    Neither of us ever want to need this section. It's here just in case, so you know the process for Dispute Resolutions and the conditions under which the ORA would be terminated upon Default or Transfer.

  2. 06.

    Covenants and Agreements

    We want to make sure you understand your rights to seek legal advice and representation, and the covenants impacting you and Key.

  3. 07.

    Terms and Definitions

    Like all legal documents, the ORA has a lot of terms, so this provides a handy reference so they're easy to understand.

Legal Review of the Owner-Resident Agreement

Seeking independent legal advice can provide added confidence in your decision.

The Owner-Resident Agreement is an important contract and we want to make sure you're comfortable with the commitment you're making. That's why we recommend Owner-Residents seek independent legal advice before signing, so you have added confidence in your decision to become an Owner-Resident with Key.

Independent from the Residential Tenancies Act (Ontario)

Since you are an Owner-Resident and no longer a renter, you agree that we are both bound by the Owner-Resident Agreement and not any aspect of the Residential Tenancies Act (Ontario). Please refer to ORA Article 3.2 for more details.

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Get In Touch

We're here to help

Like any good neighbour, we're always happy to help. So, if you have any questions or want to chat about the ORA, we're only a click away.