OREA Form 401 Explained

Upon finding your perfect home, you’re going to need to fill out a rental application. Not sure how to deal with the whole process? In this piece, we’ll let you in on the OREA Rental Application Form 401 — the document needed for sealing the deal between a tenant and a proprietor. Stay tuned for details.

What Is Ontario Real Estate Association (OREA)?

Let’s start with the definition of the organization that issues the form 401 Rental Application. The Ontario Real Estate Association, often shortened to OREA, is one of the leading business associations in Canada that represents real estate agents and salespeople. The purpose of this organization is to aid you in buying (or renting) the house of your dreams — while shielding your interests and rights along the way.

What Is OREA Form 401?

It’s a legally binding agreement between a tenant and a property owner in Ontario that is aimed at sealing the agreement-to-lease-residential deal as fast and easy as can be. To speed up the process even more, fill out this form online. Going digital in this respect equals accuracy and success.

What Is Form 401 Ontario Used For?

OREA 401 form is utilized for making the agreement between the tenant and the landlord officially valid. Also, it is aimed at protecting both parties’ interests, as well as warding off any misunderstandings and miscommunication. If you are required to attach OREA Form 401 Schedule A with additional premises, don’t forget to do it.

How to Fill Out OREA Form 401?

The form is a three-pager that’s fairly easy to get to grips with. Filling it out shouldn’t pose any difficulties as you progress through it. The form comes with pretty lengthy nonfillable details, so make sure you read into them as you complete it. Here’s what you’re going to need to indicate to fill it out:

  1. Tenant ID info.
  2. Landlord ID info.
  3. Agreement date.
  4. Property details.
  5. Both sides’ signatures.

Whether it’s about Form 401 or OREA Schedule A, maximum accuracy should be among your utmost priorities when filling out the form. With that said, if you’re confused by certain points in the document, do your best to consult an attorney before completing the form.

How to Sign OREA Lease Agreement Form 401

To sign this or any other vital document, make the most of the relatively recently introduced digital signatures. With a great e-signature tool at your fingertips, you get to add signatures to your files online or send them for signature in the blink of an eye. And those signatures are totally legitimate. 

PDFLiner is among the most secure platforms that come with the integrated e-signature tool. The digital signature process comes down to just a few taps, which speeds up your workflow tremendously. 

Here are the quick instructions on signing the form with PDFLiner:

  1. Upload the doc to the system or find the needed template in their library.
  2. Click on the ‘Add Sign’ button in the upper left-side menu.
  3. Decide how you want to incorporate your signature: draw, upload, or capture.
  4. Pinpoint signature fields in your file and get the procedure started.
  5. Remember to save the changes when you’re done. 

The Bottom Line

The document we’ve just dwelled upon is crucial when it comes to renting the property you’re on the prowl for. It helps you protect your rights and gets you one step closer to your dream home. Therefore, it is in your best interest to fill it out with maximum accuracy and professionalism in mind.