Rental Lease Question
Aug 1st, 2018 11:47 am
Aug 1st, 2018 11:58 am
CA landlord cannot require the tenant to sign an N9 Tenant's Notice to End the Tenancy as
a condition of agreeing to rent a unit. A tenant does not have to move out based on this
notice if the landlord required the tenant to sign it when the tenant agreed to rent the
Aug 1st, 2018 1:04 pm
Aug 1st, 2018 1:15 pm
Aug 1st, 2018 1:21 pm
Aug 1st, 2018 2:20 pm
Aug 1st, 2018 2:28 pm
If buyer buys it to live there and not to rent, it will effectively force tenant out.
Aug 1st, 2018 2:32 pm
Aug 1st, 2018 2:57 pm
Still there is significant difference. When you sell it to someone with intention to live there no one month compensation is need to force tenant out in 60 days.
Aug 1st, 2018 3:06 pm
Not enforceable. Tenant can just say I changed my mind, goes month to month. You also better charge your tenant sky high rent now because you will be locked in % wise if not, thanks to your friendly socialist Liberal government. Only way they can be evicted is if you move in yourself and pay them 1 month rent compensation (and only if they accept, it can get dragged out pretty long through the LTB process).
Aug 1st, 2018 3:43 pm
Aug 1st, 2018 3:47 pm
Aug 1st, 2018 4:09 pm
Why? Just charge market rate.
Aug 1st, 2018 4:12 pm
RTA provides some abilities to actually put a higher rate into agreement and apply discount. But there are too many limitations on possible discount, read about it.
Aug 1st, 2018 4:14 pm
onlineharvest wrote: ↑ Why? Just charge market rate.
Market rate has actually surged in the last year so with a new tenant you're in the best position. Low vacancy and landlords having to price in future uncertainty, new and clock-reset rental rates have never been higher. Also make sure to send a rent increase notice 90 days from the end of the lease. Because landlords are hamstrung, you're going to have to raise the rental rate every year regardless of need - in order to protect you from future carrying cost increases that are well above guideline maximums.