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BC Residential Tenancy Agreement

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  • Feb 4th, 2013 9:04 pm
[OP]
Sr. Member
Dec 15, 2008
640 posts
53 upvotes
Vancouver, BC

BC Residential Tenancy Agreement

A good friend has $400K left in her mortgage. She can sell the house for $630K. She is very much against renting due to its "uncertainties" such as landlord can evict you anytime when they decide to sell the house. What if the house appreciates to $700K+ etc.

We compared her monthly cash flow in these two scenarios:
Keep the house & mortgage = -$400
Sell the house & rent = +$2000

I need help with how tenant's rights in Vancouver, BC work. Can you sign an agreement with landlord to rent minimum of 1 year as an example? How about 2 years? I think this removes some of the "uncertainties". Also can the landlord really evict you if house becomes for sale overriding the agreement?

http://www.rto.gov.bc.ca

I just think renting even for couple years is better in this case reversing the negative cashflow by +$2400!!!
8 replies
Sr. Member
Aug 13, 2006
971 posts
163 upvotes
Vancouver
Dude... you post the link but don't bother spending the time looking thru it? If the landlord sells the house, it looks like they have to give 2 months notice. It took me 2 minutes to find that clause so I won't post the link for you.
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[OP]
Sr. Member
Dec 15, 2008
640 posts
53 upvotes
Vancouver, BC
To clarify...I've read through my own link of course but was wondering if there's any way to get in an agreement with landlord to have 1 year rental which cannot be overridden when he decides to sell for example 8 months into it. I can get a lawyer involved with paper work I guess?

How can a landlord end a tenancy?
http://www.rto.gov.bc.ca/content/rights ... g.aspx#195

http://www.rto.gov.bc.ca/documents/RTB-32.pdf

Thank you.
Deal Addict
User avatar
Sep 14, 2003
4603 posts
256 upvotes
Burnaby
exhaust wrote: To clarify...I've read through my own link of course but was wondering if there's any way to get in an agreement with landlord to have 1 year rental which cannot be overridden when he decides to sell for example 8 months into it. I can get a lawyer involved with paper work I guess?

How can a landlord end a tenancy?
http://www.rto.gov.bc.ca/content/rights ... g.aspx#195

http://www.rto.gov.bc.ca/documents/RTB-32.pdf

Thank you.
If it's a month to month rental, it's two months notice.

What you're looking for is a lease agreement. If a lease agreement is in place for a set period of time, the seller still has the right to sell the property, but the new owners of the house becomes the new landlords. If there's a lease agreement in place, the new owners have to keep to that agreement, and that's something they need to consider when purchasing the property.

So in short, yes if a lease agreement is in place, selling the property doesn't override this agreement.
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[OP]
Sr. Member
Dec 15, 2008
640 posts
53 upvotes
Vancouver, BC
Lease agreement...that's it! I wonder if landlord agrees on a 2 year lease agreement and we put that in writing. Any loopholes where he is allowed to terminate sooner? Any RFD lawyers that can chime in?
Deal Addict
User avatar
Sep 14, 2003
4603 posts
256 upvotes
Burnaby
exhaust wrote: Lease agreement...that's it! I wonder if landlord agrees on a 2 year lease agreement and we put that in writing. Any loopholes where he is allowed to terminate sooner? Any RFD lawyers that can chime in?
Well, I believe the landlord still has the right to evict you due to the more obvious reasons, like if they find out you're performing illegal activities in the rental suite, or if you don't pay your rent. I wouldn't call those loopholes though.
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[OP]
Sr. Member
Dec 15, 2008
640 posts
53 upvotes
Vancouver, BC
gheart008 wrote: Well, I believe the landlord still has the right to evict you due to the more obvious reasons, like if they find out you're performing illegal activities in the rental suite, or if you don't pay your rent. I wouldn't call those loopholes though.
True. Assuming there's no illegal activity and rent payment is always on time I can't think another reason how they can evict you if you have a 1 year lease agreement. I wonder if 2 year lease agreement or more is possible though. RFD lawyer's input?
Deal Addict
User avatar
Sep 14, 2003
4603 posts
256 upvotes
Burnaby
exhaust wrote: True. Assuming there's no illegal activity and rent payment is always on time I can't think another reason how they can evict you if you have a 1 year lease agreement. I wonder if 2 year lease agreement or more is possible though. RFD lawyer's input?
In terms of a 2 year lease, why not? I've seen longer. Some landlords like long term tennants.
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