Ontario lease agreement

Ontario Landlord Discussion

2017.12.22 05:21 Ontario Landlord Discussion

The rules governing rental properties in Ontario are unique and nuanced. This is a place to discuss anything that pertains to landlords, tenants or renting in Ontario including RTA and LTB issues, news, resources, questions, stories, etc. Questions by both landlords and tenants are welcome!
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2010.12.19 11:20 waldoxwaldox Toronto GTA Real Estate News & Trends

The Latest Real Estate Market News, Trends & Advice For Toronto GTA and Surrounding areas Halton, Peel, York, & Durham.
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2009.02.01 19:20 /r/Ontario

Welcome to Ontario, the largest and oldest online community dedicated to the lovely people of Ontario, Canada! We strive to be the best place to talk and discuss all things Ontario. Have a question you want to ask about Ontario? Need opinions about employment? Have an issue with your landlord/tenant? Ask your question here!
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2024.05.29 05:27 AidenLWolfe Roomate refuses to move

I have a completed addendum signed near 30 days ago by roomate “A” to leave the premises and documentation from them stating they will leave on a specific day, and have it submitted to the rental office. But what can I do if they refuse to leave? They chose the day and signed off on it. Do I have any grounds to toss their property?
I have emailed the front office about the situation also.
It’s a month to month lease agreement in a house.
submitted by AidenLWolfe to legaladvice [link] [comments]


2024.05.29 05:04 Big-Masterpiece-163 [Tenant - CA] Rental management company keeping a portion of my security deposit

Need input ASAP. For reasons I cannot get into, I broke a lease agreement the day before I was supposed to move in. When I initially signed the lease, I got the first month for free (dates of free month are clearly listed in the lease agreement) so when I spoke to the leasing manager informing him of my decision, he told me I would be liable for rent until a new tenant could be found. However, since I got the first month for free, my obligation would technically start the following month. Luckily, we found a tenant within a week and they moved into the apartment on the 13th of the month. I knew there would be some fees associated with relisting the apartment, which I do not contest. The problem is they deducted rent from 1-12th of the month from my security deposit and told me the "free month" was contingent on me fulfilling the lease agreement. I've looked over the lease agreement and cannot find any clause to support this claim but the rent owned for the dates of my first month is clearly stated as "free". Does their claim have any merit? If not, what can I do to recoup the prorated rent amount they are holding?
submitted by Big-Masterpiece-163 to Tenant [link] [comments]


2024.05.29 05:03 BipolarConcentration Sublet my rental, they didn't pay rent

In Michigan.
I know literally nothing about what to do to move forward. Long story short, sublet my rental due to incoming rent increase with the intention of them taking over the actual lease when renewal happened. They failed to pay rent for nearly 4+ months. I have a lease agreement with the tenants I sublet to. I was evicted since I was the leaseholder with the community resulting in them being evicted. Now I'm being billed over 20k for back rent, future due rent, damages, and legal fees.
I'm not sure what to do to move forward. Are there lawyers that work with people and can bill the failed tenants - I put in my lease with them that all legal fees are their responsibility if a legal route needs to be taken.
Post I had made with a little more detail regarding the situation, though I don't know if it helps shed light on it.
https://www.reddit.com/offmychest/comments/1d30ixp/made_a_naive_mistake_its_costing_me_everything/
submitted by BipolarConcentration to legaladvice [link] [comments]


2024.05.29 05:02 writer-of-stars What are your thoughts on me (20F) and my bf (22M) moving in together after 9 months?

Is it a bad idea to move in together?
I (20F) have been with my bf (22M) for 7 months. We want to move in together this fall, so we will have been together for 9 months at that point. I’ve gotten mixed reactions from family so I wanted to get opinions from other people on Reddit. He has been living on his own/with roommates since he was 18. I have never rented my own place but have lived in dorms with roommates since I was 18 as well.
Every time we hang out it is essentially a sleepover. Honestly, most of the time we spend together is just casually hanging out as his place or mine, rather than actual dates or nights out. It feels like what we do is what most couples that already live together do such as making dinner, watching a movie, or just hanging out and scrolling on our phones. We have spent weekends together, been on trips together, met families, did 1 month long distance, etc. Also, it’s worth noting that I would be moving into his place and wouldn’t technically be on the lease due to the agreement he has with his landlord of sorts, so in the chance we ended things I wouldn’t be bound to a contract.
We both agree that we don’t want to rush anything, but we both feel ready that this is the right move. My concern is just the fact that everyone says you ruin a good thing when you move in together. Many people have told me that I’ll lose my independence before I’ve really had it, which I disagree with. I’ve lived on my own for two years, and I just feel that I would be happier living with him than having my own place first. I feel that since we’ve been together we still have maintained our own personal lives and haven’t been completely just wrapped up in each other. He works full-time, I’m a senior in college, and we are both in different walks of life but we still work well together and maintain boundaries.
Another concern that has been raised is communication. We both communicate very well and aren’t afraid to tell each other when we need alone time or if we feel certain things aren’t being understood, appreciated, etc. I feel that if we move in together we will be able to manage the house and figure out chores, shopping, and groceries easily together as we tend to be on the same page about a lot of stuff. We are both neat people and smart about money.
I know I am fully capable of finding my own place, and I understand why people are asking what the rush is. I’m worried however that if I do decide to find my own place first, I know the lease is going to be one year which means we won’t be able to move in together until that is up which is wayyy longer than either of us wants to wait. Also, it would be a lot of money spent that could have been saved (I know people say not to move in together just to save money, but it isn’t the main reason why we want to).
So, what is the best move here? I want to hear honest thoughts and opinions.
TL;DR: I want to move in with my boyfriend but I don’t want it to ruin our relationship. Should I wait another year and a half or move in a couple months?
submitted by writer-of-stars to relationships [link] [comments]


2024.05.29 04:59 Efficient-Squash-636 Questionable lease agreement, is this normal? Utah

Questionable lease agreement, is this normal? Utah
I’m considering moving to a new apartment complex, but looking over the lease, it seems questionable. I’m hoping I can get help determining if these things are normal before I sign.
1) The landlord can enter the residence at any time, with or without notice. The lease reads, “Unless otherwise restricted by law, Owner may enter the Premises during reasonable hours with or without notice in order to inspect, make repairs, provide general or preventive maintenance, replace filters, leave any notices, and/or for any other reasonable business purposes whether Resident is or is not present in the Premises. If Resident is not present at the Premises, then Owner will have the same right to such entry by duplicate or master key. If, in Owner’s opinion, there exists an emergency or a violation of this Agreement exists, Owner may enter without notice at any time for any inspection, repair, or to determine the condition or occupancy of the Premises. It is the intent of the parties hereto that this provision grant Owner immediate access to the Premises.”
2) There is a “pest addendum” that I’m including a screenshot of here. I find it odd that it’s the resident’s responsibility to inspect for pests. I’m not able to enter the exact apartment I’d be moving into because there is a tenant living there currently, so I can’t exactly inspect the unit myself.
I’m not a lawyer so these things could be perfectly normal, I just don’t know.
TIA!
submitted by Efficient-Squash-636 to Renters [link] [comments]


2024.05.29 04:50 Flat_Reserve_1628 NAU the suites

So apparently the suites cancelled my lease because of the "NAU Freshman Priority Period Agreement"? And now I'm on the waitlist. What can I do to guarantee a spot?
submitted by Flat_Reserve_1628 to NAU [link] [comments]


2024.05.29 04:02 Snakey-wakey-9 AZ Subleasing or lease takeover? I don’t know what situation I’m in.

My lease is up in September, and I just received my renewal offer. Surprisingly, it only went up by about $30. Even with this small increase, the rent for my two-bedroom, two-bathroom apartment is a steal compared to what others are paying for a one-bedroom, one-bath in this area. Despite the great rate, I am planning to move and would like to help an elderly family member benefit from this low rent. I intend to put them on the lease, but I’m curious about the process if I want to be removed from the lease next year. My plan is to add her to the lease before signing the new agreement, so she can continue on the lease seamlessly. Is this still considered subleasing or is this a lease takeover or what is this? I feel like it’s something I shouldn’t even be doing. Lol Right now, the the same exact inits as mine are $600 to $900 more than what I’m currently paying.
submitted by Snakey-wakey-9 to Renters [link] [comments]


2024.05.29 03:40 jlynnj99 Is this a scam???

Is this a scam???
Been trying to look for a place to rent in the city. Saw this on Facebook yesterday and I thought it was a pretty good price considering the location (those apartments do exist on Heseltine), so I messaged asking if we can schedule a viewing. She basically ignored my question regarding a viewing but I thought maybe they would prefer to communicate over email instead of Facebook, whatever. Didn’t think much of it. Today, I get a phone call (Sask #) from a man with a heavier accent. He said he emailed me an application in relation to this place. While on the phone with him, I glanced at the application and I’m not a fan that they want a photo of our ID’s and to see pay stubs before we’ve even seen the place! So I asked if we could view it first, just to make sure this is legit. He said he did viewings yesterday but “had so many people interested he couldn’t get everyone a viewing.” I asked if we could do it later this week and he said he’s back in Thunder Bay now (quick turnaround 🤔) so he can’t do more viewings. He was polite and said if I’m not comfortable sharing my information then theirs no pressure to apply.
I won’t be applying, as I’m definitely leaning more towards this not being real and I don’t want to give information to someone I’ve never met. $1320 with utilities included in that just seems to good to be true in comparison to other places I’ve checked out. Just wanted to post and get a second opinion if I’m overthinking it, or if it’s not a legit posting.
submitted by jlynnj99 to regina [link] [comments]


2024.05.29 03:35 ambivert-coco X1 2024 Lease Negotiation.

X1 2024 Lease Negotiation.
Leasing. Can I negotiate a 4% off MSRP or little more ? This is in Canada. Not a factory build.
submitted by ambivert-coco to BMW [link] [comments]


2024.05.29 03:34 BipolarConcentration Made a naive mistake, it's costing me everything

Apologies as I am on mobile.
Last October I found out my rent was going up in my previous home and there was no way I could afford the increase. I posted to sublet my rental for the remaining months, with the then intention of signing over the lease in full to the new tenants. A couple reached out to me, desperate to move to the city I lived in as it was closer to their child's school and their jobs. They seemed great. He was a veteran, I am still not 100% clear what she did. But whatever. They had jobs, they got approved from the community. Seemed like a good move for 2 desperate families.
When November came around their rent payment bounced and the first late fee came. They told me that their bank never got the ACH attempt and the community was trying to scam them. They paid it via western union checks about 2 weeks late, but it got paid. Then December, the same story. He swore up and down he dropped a check at the office, but when I asked them to review the camera for the entire day he said he dropped it off, no sign of him. I told him to send me his bank statement showing the withdrawal, no totals, and I would take care of it. They paid it 2 weeks late, never sent me the information to get the first attempted payment refunded.
January they made no attempt to pay. I reached out to them to see what I could do. He told me they were applying for rent assistance and that it would be at most 14 days before the agency issued payment. It never happened. By March I was dealing with eviction for myself for that rental since, due to being behind on rent I could never get the lease moved to their name. By April 18th the eviction was finalized, I gave them plenty of notice and did what I could to help. But I have 2 kids and my own bills.
This month I received a final bill from the rental community. It is over 20k. The couple I rented to changed their phone numbers, left no forwarding address, I have no way to serve them for back rent on our sublease agreement.
I haven't been sleeping since getting the bill. I am working to get my husband through immigration since Sept when we got married, but I dont even know what to do. I dont know how to tell him that if he moves, I'm facing 20k in collections. I cry myself to sleep nightly. My stress levels are insane, my work is suffering, I know I'm being short tempered with my kids. Everything is just crashing around me.
I dont know where to go from here. I have had the most terrible thoughts on top of it, I just don't know how to cope. I dont own my house or my car. I won't be able to get another lease with a 20k collection debt. I feel absolute hopelessness and just....bad.
I was trying to help out another family and it's absolutely destroying mine now. I wanted to see the good in people, I never even considered this happening. I just don't know what to do anymore.
submitted by BipolarConcentration to offmychest [link] [comments]


2024.05.29 02:52 AsITurnBlue What information is my apartment complex legally entitled to concerning my ESA?

I've had my emotional support animal for over 6 years and I've lived here the entire time. When I first got her, the corporate office received a letter from my doctor and a form filled out by my vet. Now, all these years later, they've decided to add a "Pet Policy" to the lease. This paper lists 3 items: Pet Application/Information Form, Pet Sponsor Agreement and Veterinarian's Certificate. Now, I can assume what some of these things are, but there is no information about any of them beyond that simple list and I'm unable to actually ask someone about this until next week. I would like to know what information I absolutely have to give them, because I don't want to give them more than I have to just because they're asking.
submitted by AsITurnBlue to EmotionalSupportDogs [link] [comments]


2024.05.29 02:25 Pottsy992 Car lease agreement - possible breach of contract?

Car Lease Agreement
Hi,
I have a driving instructor car leased through my driving school which offers fleet insurance and found out today that they have ran into a few "snags" getting it renewed for this year. They are offering a £12.35 reduction in my lease payments per week which will not cover the cost of my insurance. I have been advised to start getting quotes to start from the 1st of June...
In my lease agreement it states "The Owner agrees to put in place and maintain a fully comprehensive insurance policy for the current replacement value of the Vehicle, for the Duration"
In the definitions area it states "Owner" means *driving school name*.
If they fail to renew the fleet insurance and I have to source my own insurance, does that give me grounds to stand on to terminate the contract early without any termination fees due to the owner failing to provide the insurance for the car?
Could someone shed some light on this?
UK - England
submitted by Pottsy992 to LegalAdviceUK [link] [comments]


2024.05.29 02:12 Then_Marionberry_259 MAY 28, 2024 PGE.V STILLWATER CRITICAL MINERALS TO PRESENT AT THE EMERGING GROWTH CONFERENCE ON MAY 29TH, 2024

MAY 28, 2024 PGE.V STILLWATER CRITICAL MINERALS TO PRESENT AT THE EMERGING GROWTH CONFERENCE ON MAY 29TH, 2024
https://preview.redd.it/8upp8wssc93d1.png?width=3500&format=png&auto=webp&s=fe47cf979cb4ba324a5947d98bf913546e567295
VANCOUVER, BC / ACCESSWIRE / May 28, 2024 / Stillwater Critical Minerals (TSX.V:PGE)(OTCQB:PGEZF)(FSE:J0G) (the "Company" or "SWCM") is pleased to announce that it has been invited to present at the Emerging Growth Conference on May 29th, 2024.
This live, interactive online event will give existing shareholders and the investment community the opportunity to interact live with the Company's President & CEO, Michael Rowley.
Starting at 11:25am ET, Mr. Michael Rowley will provide a comprehensive overview and update on the Company and its flagship Stillwater West Ni-PGE-Cu-Co + Au project in Montana, USA, including anticipated catalysts and objectives for 2024, followed by Q&A. Participants are invited to submit questions in advance to [Questions@EmergingGrowth.com](mailto:Questions@EmergingGrowth.com) or ask questions during the event.
To register, click here.
An archived webcast will also be made available on EmergingGrowth.com and on the Emerging Growth YouTube Channel, http://www.YouTube.com/EmergingGrowthConference following the event.
https://preview.redd.it/14w3m8zsc93d1.png?width=250&format=png&auto=webp&s=49be0c8c1a9b784958c7e905505b9419eb905e8a
The Emerging Growth conference is an effective way for public companies to present opportunities and communicate major announcements to the investment community in a time efficient manner.
Conference focus and coverage includes companies in a wide range of growth sectors with strong management teams, focused strategy and execution, and overall potential for long-term growth. The audience includes individual and institutional investors, as well as investment advisors and analysts.
About Stillwater Critical Minerals Corp.
Stillwater Critical Minerals (TSX.V:PGE)(OTCQB:PGEZF)(FSE:J0G) is a mineral exploration company focused on its flagship Stillwater West Ni-PGE-Cu-Co + Au project in the iconic and famously productive Stillwater mining district in Montana, USA. With the addition of two renowned Bushveld and Platreef geologists to the team and strategic investments by Glencore, the Company is well positioned to advance the next phase of large-scale critical mineral supply from this world-class American district, building on past production of nickel, copper, and chromium, and the on-going production of platinum group, nickel, and other metals by neighboring Sibanye-Stillwater. An expanded NI 43-101 mineral resource estimate, released January 2023, positions Stillwater West with the largest nickel resource in an active US mining district as part of a compelling suite of nine minerals now listed as critical in the USA. To date, five Platreef-style nickel and copper sulphide deposits host a total of 1.6 billion pounds of nickel, copper and cobalt, and 3.8 million ounces of palladium, platinum, rhodium, and gold at Stillwater West, and all deposits remain open for expansion along trend and at depth. Results are pending from resource expansion drilling completed in the fall of 2023.
Stillwater also holds the high-grade Black Lake-Drayton Gold project adjacent to Treasury Metals' development-stage Goliath Gold Complex in northwest Ontario, currently under an earn-in agreement with Heritage Mining, and the Kluane PGE-Ni-Cu-Co critical minerals project on trend with Nickel Creek Platinum‘s Wellgreen deposit in Canada‘s Yukon Territory.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Michael Rowley, President, CEO & Director - Stillwater Critical Minerals Email: [info@criticalminerals.com](mailto:info@criticalminerals.com) Phone: (604) 357 4790 Web: http://criticalminerals.com Toll Free: (888) 432 0075
Forward-Looking Statements
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Stillwater Critical Minerals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Stillwater Critical Minerals and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Stillwater Critical Minerals
View the original press release on accesswire.com

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Universal Site Links
STILLWATER CRITICAL MINERALS CO
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submitted by Then_Marionberry_259 to Treaty_Creek [link] [comments]


2024.05.29 02:07 No-Combination2912 AITA for going to court to get money owed to me?

The end of last year, my ex-best friend told me her and her boyfriend needed a place to stay. I had recently bought a house earlier in the year, so I had an extra room for guests. My ex friend in the past had stayed with me before in my apartment when I had one, but temporarily (no rent paid from them). We had been friends since high school, and we were close. My offer to her was $400 a month per person (so $800 total a month for the both of them). This included their room, and everything else in the house (shower, living room, wifi, laundry, food, etc). Let me also say, my total bills for the month are roughly $1600, so I believe it is fair. She had agreed to this, and moved in the end of October. They paid me $200 cash, $200 Venmo for the first month. They told me they’d get me the other $400 by the time they get their next paycheck, since they had gotten a new job. I said fine, I trusted them, so I expected it to come soon. Two weeks passed, nothing. It was the next month and I was behind $1200 in total. $400 from the previous month, $800 for the current month. I kept asking them, not a lot, but every other week on the amount. They had not signed a lease agreement, but over text had agreed to the amount. Fast forward to the middle of December, I had asked them for the rent that was owed, and they told me they were moving out. They said it was cause they needed credit, so I said that’s fine, but you’re paying me right? I lessened the amount to $1000, just to get something, kinda like a deal. They told me they’d pay me at the end of December. I said okay. I asked them December 29th for the amount. No response. They ghosted me for 2 whole weeks following this, then proceeded to answer one day saying it was “too much” and that they had never paid more than $600 for a room. I then lowered it to $800, and they told me they’d pay that. I have not gotten anything. I had just recovered from a major chest surgery, went back to work full time as well as full time college. I was busy, so I had no time for Snapchat. I didn’t answer over snap as I was not using it at the time, but I answered over text. She then decided to end our friendship based on that. Following this, I blocked them both to avoid drama (she’s known for drama). She messaged me on a separate account on Instagram calling me a plethora of things, as well as calling my boyfriend a predator. I am a grown adult, and so is he, so that’s obviously not the case. She then proceeded to post on google for his job saying the “general manager preys on young girls” (I have a screenshot). We got this removed and then she continued to post about me- still not receiving money. I have text proof saying she and her boyfriend would pay me $800 plus that they were aware of the $400/mo/person. I’m planning to take this to court to get my money, as well as suing for defamation of character since she publicly posted that my boyfriend is a predator. Is this the right thing to do?
submitted by No-Combination2912 to AmItheAsshole [link] [comments]


2024.05.29 02:07 Sharp_Sea_1293 Question

My boyfriend recently signed a lease here in Ontario. The landlord has been giving some trouble. She had said no pets allowed, but in his lease he had to write what pets he has and breeds. They also have pet friendly in all posted ads.
Now the landlord has signed with a new management property. The new property is asking him to sign a new lease and asking that I sign as well. My thought is his lease should carry over and he doesn’t have to sign a new one. What is the correct option?
I still have my own place and my own lease. I don’t feel I should have to give my information just because I stay over. As per the landlord tenant rules, tenants are even allowed a roommate as long as municipal law and rules are followed.
He has not even been in the unit for one month.
Any advice appreciated.
submitted by Sharp_Sea_1293 to OntarioLandlord [link] [comments]


2024.05.29 02:05 margotblanc Breaking out of a lease with a restraining order.

Hello,
I am currently encountering an issue with the property management where I lease.
I am a victim of domestic violence and have a restraining order against my ex-boyfriend, who is the primary leaseholder. He has threatened me and continues to stalk me. For my safety, I need to be legally removed from the lease agreement. I have spoken to the associates at the leasing office for assistance, but they said my ex-boyfriend needs to approve my release from the lease agreement. He refuses to do so because he won't accept the breakup. I offered to pay the roommate release fee, but they still refused to accept this. I have begged and pleaded for my safety, as we cannot be in the same room due to the restraining order. I even provided documentation proving this.
My question is: is there anything else I can do? He kept me in the apartment against my will while I was pregnant, took my phone from me, held me at knifepoint, and I’ve had to call the police on him more than five times. I am at a loss and feel very powerless.
If there is any advice you can offer, I would be very grateful. I am in FL.
submitted by margotblanc to legaladvice [link] [comments]


2024.05.29 02:00 NappingFo0l Just rolled off the lot. Now for the buyout process!

Just got a new RAV4 Prime taking advantage of the lease incentive. I spoke with dealer this morning after researching the buyout all weekend. Thankfully I was adamant that the lease be through Toyota Financial. She was pushing Ally, which I only found out what lender after asking multiple times for info. It looked like the buyout process would come with hefty fees if it was through Ally. She stated Ally had better "rebates" and was "surprised to see" that Toyota's lease agreement ended up cheaper. Thought it was an odd interaction and must have been for her own benefit... Not sure though what benefit it would serve her.
Now to buyout the car!!! Waiting for TFS to set up an account for me and I will swiftly begin buyout process. Any tips and tricks in this process I may not know?
submitted by NappingFo0l to rav4prime [link] [comments]


2024.05.29 01:32 Wild_Guava_3423 FFIE- 2023 Financial Results

Is this the report we were waiting for? Doesn’t seem terrible?
https://www.crweworld.com/article/news-provided-by-business-wire/3396289/faraday-future-announces-fiscal-fourth-quarter-and-full-year-2023-financial-results
Faraday Future Announces Fiscal Fourth Quarter and Full Year 2023 Financial Results Company Transformed Business to Production and Revenue-Generation Phase with FF 91 2.0 EV in 2023. Realized Revenue for 2023 and Reduced Operating Loss, Cash Used In Operating Activities, while improving Composition of Balance Sheet as Compared With Fiscal 2022. Company Committed to increased production and deliveries while maintaining financial discipline. Continues Pursuit of Additional Significant Strategic Investors to Drive Future Growth. LOS ANGELES--(BUSINESS WIRE)-- Faraday Future Intelligent Electric Inc. (Nasdaq: FFIE) (“FF”, “Faraday Future”, or “Company”), a California-based global shared intelligent electric mobility ecosystem company, today announced its financial results for its fourth quarter and full year ended December 31, 2023.
RESULTS FOR FOURTH QUARTER 2023 AND FULL YEAR 2023
For fiscal 2023, FF produced its first year of revenue as well as a reduced operating loss, and cash used in operating activities, while improving the composition of its balance sheet, as compared with fiscal 2022. These results were achieved through major cost reductions and cost discipline.
FF reported revenue of $0.8 million for 2023 and cost of goods sold of $43 million, compared with no revenue and cost of goods sold in 2022. This reflects that the Company only began delivering vehicles in the third quarter 2023. Loss from operations was $286 million for 2023, as compared to a loss from operations of $437 million for 2022. The change was due to a significant reduction in operating expenses which registered $244 million in 2023 compared to $437 million in 2022. The improvement in operating expenses for the year was primarily due to lower research and development expenses as the Company completed product development and transitioned to fulfilling sales through manufacturing and production. Net loss improved to $432 million for 2023, as compared to $602 million for 2022.
Total assets on December 31, 2023, were $531 million, compared to $529 million as of December 31, 2022. Total liabilities were $302 million, versus $328 million on December 31, 2022.
Net cash used in operating activities for 2023 was $278 million compared to $383 million in 2022. Capital expenditures were $31 million for 2023 compared to $123 million for 2022.
Cash balance at December 31, 2023, was $4 million, including restricted cash of $2 million. This compares to cash of $17 million at December 31, 2022. As of May 23, 2024, the Company’s cash position was approximately $5 million, which includes restricted cash of $2 million.
To support future growth the Company continues to pursue additional significant strategic investors to support future growth. It also is considering equipment- and IP-backed financing to potentially reduce reliance on dilutive funding. The Company does not plan to issue additional shares unless and until the Company receives shareholder approval to increase total authorized share count.
“2023 was a milestone year for FF. We transitioned to a phase of growth that focuses on production and revenue generation, establishing FF’s position in the ultra-luxury and high-performance EV market,” said Matthias Aydt, Global CEO of Faraday Future. “Looking forward, I am excited by the future as we remain steadfast in our pursuit of growth through efficiency and the new markets we entered in 2023. We remain dedicated to elevating both our product strength and stockholder value.”
KEY COMPANY HIGHLIGHTS DURING 2023
FF launched a leasing program with Luxury Lease Partners, obtained a Bureau of Automotive Repair license, activated a home charging installation program, and rolled out a public charging program. These initiatives are designed to provide a seamless and customer-focused experience for our users.
The Company also announced potential entry into the Middle East market late last year. This included strategic cooperation agreements with Master Investment Group and Siraj Holding LLC. Entry into the Middle East would add a third leg to the Company’s geographic strategy that includes the U.S. and China.
FF also agreed to a collaboration with the Abu Dhabi Investment Office (ADIO) to bring generative AI and advanced intelligent electric vehicle capabilities to the UAE’s Smart and Autonomous Vehicles Industry (SAVI) cluster.
OUTLOOK
Given current market conditions and current levels of funding the Company is withdrawing its production target guidance for 2024.
EARNINGS WEBCAST
Faraday Future management will host a webcast today, May 28, 2024, at 8:00pm Eastern time (5:00pm Pacific time). Interested investors and other parties can listen to a webcast of the conference call by logging onto the Investor Relations section of the Company's website at https://investors.ff.com/.
ABOUT FARADAY FUTURE
FF is the pioneer of the Ultimate Intelligent TechLuxury ultra spire market in the intelligent EV era, and a disruptor of the traditional ultra-luxury car civilization. FF is not just an EV company, but also a software-driven company of intelligent internet AI product.
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2024.05.29 01:25 Pottsy992 Car Lease Agreement

Hi,
I have a driving instructor car leased through my driving school which offers fleet insurance and found out today that they have ran into a few "snags" getting it renewed for this year. They are offering a £12.35 reduction in my lease payments per week which will not cover the cost of my insurance. I have been advised to start getting quotes to start from the 1st of June...
In my lease agreement it states "The Owner agrees to put in place and maintain a fully comprehensive insurance policy for the current replacement value of the Vehicle, for the Duration"
In the definitions area it states "Owner" mean *driving school name*.
If they fail to renew the fleet insurance and I have to source my own insurance, does that give me grounds to stand on to terminate the contract early without any termination fees due to the owner failing to provide the insurance for the car?
Could someone shed some light on this?
UK
submitted by Pottsy992 to CarLeasingHelp [link] [comments]


2024.05.29 01:12 blutheshoota is it possible to break my lease before lease term starts?

is it possible to break my lease before lease term starts?
hello all, i had signed a lease earlier this year and was saving some money to pay the security deposit and first months rent when they had called to let me know the room i had wanted was given to somebody else, they then told me i could apply for a smaller unit. i wasn’t interested anymore and wanted to break my lease as the lease term doesn’t start until august 16th, they informed me i have to pay 85% of first months rent in order to break my lease. i attached my lease agreement, please let me know if there’s anyway i can get out of paying the 85%.lease
submitted by blutheshoota to legal [link] [comments]


2024.05.29 01:09 smellyprawn Does a verbal land lease agreement hold up on a property no longer owned by the person who made the agreement?

My ex and I leased the neighbouring land for grazing from someone and when we split up I was supposed to take over the lease . However, my ex is being difficult and even though he's moved out of province has claimed the lease for himself and told me he'll charge me with trespassing if I even step foot on it.
I did some digging and saw that as of last year the property is registered to the Crown, c/o Surveyor of Taxes. I called them to see if this meant what I think it does, and they said it does but it is still kind of in limbo and the owner still has a chance to straighten it out and get the property back until the end of 2025.
So my question is, does their verbal lease agreement hold up? Or now that it technically belongs to the crown would it be void?
I also wonder about the easement regarding access to the neighbouring property, it goes through my land and so if it belongs to the crown does that mean the public (and my ex) can use that access point?
Thanks in advance!
submitted by smellyprawn to legaladvicecanada [link] [comments]


2024.05.29 00:58 blutheshoota is it possible to break my lease before lease term starts?

hello all, i had signed a lease earlier this year and was saving some money to pay the security deposit and first months rent when they had called to let me know the room i had wanted was given to somebody else, they then told me i could apply for a smaller unit. i wasn’t interested anymore and wanted to break my lease as the lease term doesn’t start until august 16th, they informed me i have to pay 85% of first months rent in order to break my lease. i attached my lease agreement, please let me know if there’s anyway i can get out of paying the 85%.
submitted by blutheshoota to AskALawyer [link] [comments]


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