Frequently Asked Questions
I do not know when the Personal Property Rental Agreement will be signed. Can I fill in the date later?Yes, by selecting "Unsure" as the date the Agreement will be signed, a blank line will be inserted into the contract so that you can add the correct date after printing the document.Should I check the Personal Property Security Register before renting?You should check if the Personal Property Security Act applies to the rental property; if it does, you should check the Personal Property Security Register to see if there have been any security interests registered against the property before you rent it. If there is a registered security interest, then the property could be subject to repossession by the registered party during the term of your rental agreement.Should I register my interest in the Personal Property Security Register?It is a good idea to register (“perfect”) your interest in the Personal Property Security Register to maintain your priority against other interests in the property. If you don't register your interest, but another party does, your interest may be unenforceable. Additionally, registering your interest will ensure that your interest survives the bankruptcy or insolvency of the other party. Your registered interest will mean you are at the front of the line for reimbursement should the renter become insolvent. Lastly, it is worthwhile to register the property to show potential renters that there are no existing interests on the property.