An N11 is an agreement, not a notice. Section 37(3) says a notice of termination “need not be given if a landlord and a tenant have agreed to terminate a tenancy.” Form N11 records that agreement. A tenant is under no obligation to sign one, ever.
There is no compensation attached to an N11 — none. The Act sets no amount, no floor and no cap, and Form N11 has no field for money. Any “cash for keys” figure is a purely private negotiation. Anyone quoting you a standard number is quoting a market habit, not a rule.
And there is no cooling-off period. No right to cancel, no disclosure requirement, no requirement for independent legal advice or a witness. Once you sign and the date arrives, the landlord can apply to the Board without notice to you.
What is an N11 in Ontario?
Section 37(1) sets the frame: “A tenancy may be terminated only in accordance with this Act.” Section 37(3) then provides one of the routes: “A notice of termination need not be given if a landlord and a tenant have agreed to terminate a tenancy.”
Form N11, Agreement to End the Tenancy, is the Board’s form for recording that. It is short. It contains the tenant’s name, the landlord’s name, the address, the termination date, an information box, and two signature blocks. That is all of it.
Do I have to sign an N11?
No. Not now, not ever, and not as a condition of renting.
The form itself says so under the heading “The tenant can’t be required to sign this agreement”: “A landlord cannot require the tenant to sign an N11 Agreement to End the Tenancy as a condition of agreeing to rent a unit. A tenant does not have to move out based on this agreement if the landlord required the tenant to sign it when the tenant agreed to rent the unit.”
The statutory backing is s.37(5): an agreement to terminate is void if it is entered into “(a) at the time the tenancy agreement is entered into; or (b) as a condition of entering into the tenancy agreement.” (Narrow exceptions exist for certain post-secondary student housing and some care-home units.)
How much is “cash for keys” in Ontario?
Whatever the two of you agree. There is no answer in law.
I read the whole of Part V of the Act, the regulations, the form and the Board’s brochures for this. The Act’s compensation provisions — s.48.1, s.49.1, s.52, s.54, s.55 and the payment-timing rule in s.55.1 — are tied exclusively to notices under sections 48, 49 and 50. None of them touch s.37 or an agreement to terminate. The phrase “cash for keys” does not appear on ontario.ca or on tribunalsontario.ca at all.
So there is no entitlement, no guideline figure and no benchmark the Board will apply. What there is, is leverage — and the honest way to think about the number is what the alternative is worth to each side. If the landlord’s realistic alternative is an N12 that carries one month’s compensation and a hearing they might lose, that shapes the number. If your realistic alternative is staying in a unit you are happy in at a below-market rent, that shapes it from the other direction.
N11 versus N12 when a landlord is selling
This is the comparison that matters most, because a landlord who wants vacant possession to sell will often reach for the N11 first — and for good reason, from their side.
| N11 (agreement) | N12 (purchaser’s own use) | |
|---|---|---|
| Nature | Mutual agreement, s.37(3) | Unilateral notice, s.49 |
| Can the tenant refuse? | Yes, absolutely | No, but it can be challenged at a hearing |
| Statutory compensation | None | One month’s rent, or another acceptable unit (s.49.1) |
| When compensation is due | — | No later than the termination date (s.55.1) |
| Notice period | Whatever you agree | At least 60 days, ending on the last day of a rental period (s.49(3)) |
| Good-faith requirement | None | Yes, plus a sworn affidavit (s.72(1)(b)) |
| Available where? | Any tenancy | Only a complex of three units or fewer, or a condominium unit |
| Bad-faith remedy for the tenant | None — you agreed | T5 under s.57, up to 12 months’ rent plus costs and a fine up to $50,000 |
The takeaway
Signing an N11 does not just end the tenancy. It extinguishes every protection an N12 would have carried — the one month’s compensation, the good-faith requirement, the affidavit, and the T5 remedy if the buyer never moves in. That is what the payment is actually buying. Price it accordingly.
Can I change my mind after signing?
There is no statutory right of withdrawal. Nothing in s.37, in s.77, or on the form gives a tenant a right to cancel. The Board’s brochure is blunt: “If you made an agreement with your landlord to end your tenancy… you must move out by the date you agreed on. You can only stay if the landlord agrees.”
What exists instead is a narrow route to attack the order afterwards, and it runs on a short clock.
What happens if I do not move out on the agreed date?
The landlord applies on a Form L3, and this is the part tenants rarely see coming. Section 77(1) allows the application to be made “without notice to the tenant.” It is an ex parte application. The first you may hear of it is the order.
Three details worth knowing on each side:
- The landlord has 30 days. Section 77(3): the application “shall not be made later than 30 days after the termination date specified in the agreement.” Miss that window and the L3 route is gone entirely — the landlord needs a fresh, valid ground.
- It costs $201 and must be filed with a copy of the agreement and a sworn affidavit or signed declaration verifying it (s.77(2)).
- The tenant has 10 days to move to set the order aside (s.77(6)), on notice to the landlord. Filing the motion stays the order (s.77(7)).
On a set-aside motion, s.77(8) lets the Board set the order aside if there was in fact no agreement and no tenant’s notice of termination — or, under clause (b), “if the Board is satisfied, having regard to all the circumstances, that it would not be unfair to do so.”
Is it legal for a landlord to offer money to sign?
Nothing in the Act prohibits it. There is no provision in the Residential Tenancies Act, in O. Reg. 516/06 or in O. Reg. 517/06 that restricts, regulates or requires approval of such an offer.
There are, however, three things worth being straight about, and two of them are risks for the landlord.
1. There is no cooling-off period and no disclosure duty. I looked specifically for these and they do not exist. No right to cancel. No requirement that the landlord tell you why they want the unit, that they intend to sell, that they intend to re-rent, or what the next rent will be. No requirement of independent legal advice, witnessing, notarisation, or filing with the Board. No requirement that the payment be documented at all. If you want any of that, you have to negotiate it into a side agreement yourself.
2. Pressure is a real legal risk for the landlord. Section 23: “A landlord shall not harass, obstruct, coerce, threaten or interfere with a tenant.” A tenant who says an offer crossed that line can apply on a T2 under s.29(1). The Board’s remedies include an administrative fine of up to $50,000, and under s.31(2), where “the tenant was induced by the conduct of the landlord… to vacate the rental unit,” the difference in rent for a year plus moving and storage costs. An aggressive cash-for-keys campaign is exactly the fact pattern that produces those orders.
3. One open question I am not going to pretend to resolve. Section 134(3)(b) says that, unless otherwise prescribed, no tenant “shall, directly or indirectly… collect or require or attempt to collect or require from any person any fee, premium, commission, bonus, penalty, key deposit or other like amount of money… for surrendering occupancy of a rental unit.” On its face that restricts a tenant from collecting money for giving up possession. How it interacts with a negotiated payment from a landlord under an N11 is not addressed in any LTB guideline, brochure or ontario.ca page I could find. I am flagging it rather than answering it, and both sides of a cash-for-keys deal should get legal advice on the point.
A practical checklist
| If you are the tenant | If you are the landlord |
|---|---|
| Do not sign at the door. There is no deadline that requires you to. | Do not imply the tenant has to sign. Section 23 is the section that bites. |
| Ask what the alternative actually is. If the unit is in a fourplex or larger and is not a condo, an N12 is not even available. | Check whether an N12 is available to you at all before treating it as your fallback. |
| Get the payment terms in writing, separately, with a payment date. The N11 will not record them. | Document the payment separately and keep proof. The N11 does not evidence it. |
| Pick a date you can actually meet. Missing it exposes you to an ex parte L3 order. | Diarise the 30-day L3 deadline from the termination date. |
| If an order arrives, you have 10 days to move to set it aside. | Expect a set-aside motion if the tenant felt pressured. |
Weighing an N11 offer, or trying to sell with vacant possession?
Tell me the building, the rent and what has been offered, and I will tell you what the alternative routes actually look like and what the unit is worth in each scenario — tenanted or vacant. Often the tenanted number is closer than people expect. No pitch, no obligation.
connect@jatindua.com · 437-987-1925 · Book a free consultation
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Frequently asked questions
What is an N11 form in Ontario?
Form N11, Agreement to End the Tenancy, records a mutual agreement between a landlord and tenant to end a tenancy. Section 37(3) of the Residential Tenancies Act provides that a notice of termination need not be given where the parties have agreed to terminate. The form contains only names, the address, a termination date and two signatures. There is no field for money.
Do I have to sign an N11?
No. A tenant is never obliged to sign an N11. Form N11 states that a landlord cannot require a tenant to sign one as a condition of renting, and section 37(5) makes an agreement void if it is entered into at the time the tenancy agreement is made or as a condition of making it.
How much cash for keys should I get in Ontario?
There is no legal answer. The Residential Tenancies Act attaches no compensation to an N11, sets no minimum or maximum, and Form N11 has no field for a payment. The phrase cash for keys does not appear on ontario.ca or tribunalsontario.ca. Any figure is a private negotiation, and any number quoted to you as standard is a market habit rather than a rule.
Is an N11 signed under duress void in Ontario?
Not automatically. Section 37(5) voids an agreement only where it was entered into at the time the tenancy agreement was made or as a condition of making it. An N11 signed under pressure mid-tenancy is not void on that basis. A tenant can argue there was no genuine agreement, rely on section 23 which prohibits a landlord harassing, coercing or threatening a tenant, or move to set aside an order under section 77(8), but those are arguments to be run rather than an automatic rule.
What is the difference between an N11 and an N12?
An N11 is a mutual agreement with no statutory compensation and no good-faith requirement, and a tenant can simply refuse to sign. An N12 is a unilateral notice for the landlord’s or a purchaser’s own use, requires at least 60 days notice ending on the last day of a rental period, carries one month’s rent in compensation under section 49.1, requires a sworn affidavit, and can be challenged on a T5 if given in bad faith.
Can I change my mind after signing an N11?
There is no statutory right to withdraw. The Landlord and Tenant Board’s guidance is that you must move out by the date agreed and can only stay if the landlord agrees. If the landlord obtains an ex parte order on a Form L3, you have 10 days to move to set it aside under section 77(6), and filing that motion stays the order.
What happens if I do not move out on the date in the N11?
The landlord can apply to the Board on Form L3 without notice to you, under section 77(1). The application must be made within 30 days of the termination date in the agreement, costs $201, and must be filed with a copy of the agreement and a sworn affidavit. If an order is issued you have 10 days to move to set it aside.
Is it legal for a landlord to offer money for an N11?
Nothing in the Residential Tenancies Act prohibits it, and there is no cooling-off period, no disclosure requirement and no requirement of independent legal advice or witnessing. Pressure is a separate matter: section 23 prohibits a landlord harassing, coercing or threatening a tenant, and a tenant can apply on a T2 for remedies including an administrative fine of up to $50,000.
Sources
- Residential Tenancies Act, 2006, S.O. 2006, c. 17 (e-Laws). Sections 23, 29, 31, 37, 48.1, 49, 49.1, 55.1, 57, 72, 77 and 134(3). Consolidation current from 1 July 2026, including the pending amendment to s.77(8)(b) coming into force 21 September 2026 (2025, c. 14, Sched. 12, s. 5). Accessed 10 August 2026.
- LTB Form N11 — Agreement to End the Tenancy. The full contents of the form, and the statement that a tenant cannot be required to sign one as a condition of renting.
- LTB Form L3 — Application to End a Tenancy and Evict a Tenant. The 30-day filing deadline and the $201 application fee.
- LTB brochure — How a Tenant Can End Their Tenancy. Confirms there is no right to withdraw from a signed agreement.
- LTB Form T2 — Application About Tenant Rights. The route for a tenant alleging harassment or coercion.
Related reading
- Your landlord is selling: what Ontario tenants actually have to allow
- The N12 notice for landlord’s or purchaser’s own use
- The Ontario LTB forms guide — which form does what
- Buying an Etobicoke condo with a tenant in place
- Can my landlord enter or show my unit? The Ontario entry rules
About the author — Jatin Dua, Etobicoke real estate agent
I am Jatin Dua, a Realtor with RE/MAX Quantum Realty, working out of 799 The Queensway in Etobicoke. I get asked to broker these conversations more often than I would like, usually after someone has already made an offer at the door. The deals that hold up are the ones where both sides understood what was being given up before the pen came out.
Reach me at connect@jatindua.com or 437-987-1925.