by jaren12 » Mon Jun 04, 2012 8:34 pm
It is a good idea to cover yourself, but a "rental" agreement won't stand up as it not being joint property.
Canada Revenue Agency would require you to declare rental income on your income tax returns and pay taxes on it. Further, upon finding out that he is sleeping in the same room as you... they'll treat that as an obvious tax dodge. All provincial rental laws require a rental to have their own space and the right to deny others from entering it -- even if a room. Further, any bankruptcy judge is going to look at someone "renting" a room from their common-law partner they are sleeping with as an obvious attempt to be able to keep money by getting your girl friend declared as a creditor. And of course, the moment he can't pay rent, the courts know full well that you aren't going to through him on the streets. Finally, any creditor is just likely to challenge it in court and keep the property and you tied up for years.
Talk with a lawyer and have them create a "cohabitation agreement". This is like a prenuptial, only it applies to common-law partnerships.