Home & Garden

Looking to sell home

  • Last Updated:
  • Sep 14th, 2020 2:03 pm
[OP]
Deal Addict
User avatar
Aug 11, 2003
1495 posts
117 upvotes
GTA (West)

Looking to sell home

RFD,

I'm looking to sell my home but its currently being leased. I want to provide a 60 day notice (as per our signed lease).

I want to know if the Ontairo stay-at-home order has been lifted by our PM? Do you know if the real estate market's picked up?

Thx.
Please thank me if you find this helpful
31 replies
Deal Addict
User avatar
Jan 2, 2012
3912 posts
1771 upvotes
Toronto
doomhammer wrote: RFD,

I'm looking to sell my home but its currently being leased. I want to provide a 60 day notice (as per our signed lease).

I want to know if the Ontairo stay-at-home order has been lifted by our PM? Do you know if the real estate market's picked up?

Thx.
Wanting to sell a home is NOT a sufficient reason to evict a tenant. The only way you can evict is to accept an offer from a buyer who states they want the home for their own personal use (so doesn't want to rent it out). Only then can you serve tenant with N12 and give 60 days to evict. If buyer wants unit as a rental property, they must take the existing tenant.

It doesn't matter what you may have your your lease agreement, if it goes against the RTA (Residential Tenancies Act) it is null and void as an illegal clause. So you can certainly ask the tenant if they would voluntarily want to leave in order for you to sell, but if tenant wants to stay then they can stay until at least place is sold. You would have to follow guidelines of doing showings with a tenanted property.
[OP]
Deal Addict
User avatar
Aug 11, 2003
1495 posts
117 upvotes
GTA (West)
I know about the N11 and N12 etc.

When or in what circumstances is the landlord not required to pay tenant one month's rent to move out? Is there even such a scenario?
Please thank me if you find this helpful
Deal Guru
User avatar
Mar 23, 2008
11501 posts
7787 upvotes
Edmonton
doomhammer wrote: I know about the N11 and N12 etc.

When or in what circumstances is the landlord not required to pay tenant one month's rent to move out? Is there even such a scenario?
If you file the N12 on behalf of a buyer who wants to purchase for personal use, then no compensation is owed to the tenant.

AFAIK, the LTB is still not taking hearings for evictions, although it seems like they're close to starting that process. So depending on the timing, the tenant may still not have to leave, even if you serve them with the N12. It's going to take awhile for the backlog to get cleared as well, I'd imagine.

Best case, talk to your tenant and tell them you intend to sell, and showings will commence shortly. Maybe they'll want to move out, maybe you can "incentivize" them (paying a month's compensation to leave might be a better deal if you can get a higher asking price).

C
Deal Addict
User avatar
Jan 2, 2012
3912 posts
1771 upvotes
Toronto
doomhammer wrote: I know about the N11 and N12 etc.

When or in what circumstances is the landlord not required to pay tenant one month's rent to move out? Is there even such a scenario?
N11 is used only when tenant voluntarily agrees to leave the unit on a specific day. No compensation would be owed. Of course the tenant is under no obligation to leave or sign an N11 regardless of what may be in their lease, so as mentioned above offering some compensation is sometimes done to get them to leave.

N12 is only used when the home owner, OR a new buyer, wants the home for personal use and doesn't intend to use it as a rental or sell it for at least the next 1 year. Here the 1-month compensation is only owed if it's the home owner that wants the unit for personal use. No compensation owed if it's a new buyer that wants it.

In order to uphold the termination of leases, you can also file with the LTB simultaneously (requires a fee) along with the N forms. For N11 you would file an L3, and for the N12 you would file an L2 form. This will get you in line for an LTB hearing should the tenant decide they want to challenge either one.
Newbie
Apr 28, 2016
80 posts
25 upvotes
doomhammer wrote: RFD,

I'm looking to sell my home but its currently being leased. I want to provide a 60 day notice (as per our signed lease).

I want to know if the Ontairo stay-at-home order has been lifted by our PM? Do you know if the real estate market's picked up?

Thx.
Where is your property located? We could do a private deal if it's good investment property.
[OP]
Deal Addict
User avatar
Aug 11, 2003
1495 posts
117 upvotes
GTA (West)
donkeyyy wrote: Where is your property located? We could do a private deal if it's good investment property.
Hey I already IM'ed you yesterday. Pls check.
Please thank me if you find this helpful
Sr. Member
Apr 20, 2018
702 posts
105 upvotes
Mississauga, ON
I'm in similar situation about giving notice to my tenant but the difference for me that I'm moving in the condo, not selling it.

It my primary residence... What is the best form for me to fill?
Deal Guru
User avatar
Mar 23, 2008
11501 posts
7787 upvotes
Edmonton
raptors87 wrote: I'm in similar situation about giving notice to my tenant but the difference for me that I'm moving in the condo, not selling it.

It my primary residence... What is the best form for me to fill?
Unless you can get the tenant to voluntarily leave, the N12 form is your only option. And as noted above, you'll have to compensate the tenant with one month's rent (and 60 days notice, assuming they're on a month-to-month lease).

If you can get the tenant to voluntarily sign an N11, jump on that. But they'd be foolish to do so.

C
[OP]
Deal Addict
User avatar
Aug 11, 2003
1495 posts
117 upvotes
GTA (West)
My question is how much less money can I get for the town house selling with tenants vs selling without ?
Please thank me if you find this helpful
Deal Guru
User avatar
Mar 23, 2008
11501 posts
7787 upvotes
Edmonton
doomhammer wrote: My question is how much less money can I get for the town house selling with tenants vs selling without ?
There's no single answer for that. Depends on the property, the buyers that happen to look at it, etc. Might even depend on your tenants; if they live like pigs, the property won't show well. Or if they are there during the showing and rant about maintenance issues and/or neighbors, that can cause grief too. On the other hand, if an investment buyer comes along and sees a well taken care of property with good tenants at a good lease rate, then the value goes up.

C
Sr. Member
Apr 20, 2018
702 posts
105 upvotes
Mississauga, ON
CNeufeld wrote: Unless you can get the tenant to voluntarily leave, the N12 form is your only option. And as noted above, you'll have to compensate the tenant with one month's rent (and 60 days notice, assuming they're on a month-to-month lease).

If you can get the tenant to voluntarily sign an N11, jump on that. But they'd be foolish to do so.

C
I got first and last month rent or are you saying tenant get next month free plus last month (already paid)

The tenant been there for almost 5 years now. Did 1 year lease and now month to month.

Ok so try N11 and give 60 days notice if the tenant agree. If not, then N12?
Deal Guru
User avatar
Mar 23, 2008
11501 posts
7787 upvotes
Edmonton
raptors87 wrote: I got first and last month rent or are you saying tenant get next month free plus last month (already paid)

The tenant been there for almost 5 years now. Did 1 year lease and now month to month.

Ok so try N11 and give 60 days notice if the tenant agree. If not, then N12?
You have to pay them one month's rent. Their last month deposit goes towards their last month's rent. If they want to use the money you give them to pay their rent next month, that's on them.

If you can get an agreement on the N11, then the date is flexible. It's a mutual agreement to end the tenancy, so any date the two of you agree on is not an issue. Could be next Friday, if they want to move out ASAP.

Keep in mind the 60 days notice for the N12 has to end on the end of a lease period (typically, last day of the month). You can give them more than 60 days notice if you want. For example, you could give them notice today, but the termination date would be Oct 31.

C
Deal Addict
User avatar
Jan 2, 2012
3912 posts
1771 upvotes
Toronto
raptors87 wrote: I got first and last month rent or are you saying tenant get next month free plus last month (already paid)

The tenant been there for almost 5 years now. Did 1 year lease and now month to month.

Ok so try N11 and give 60 days notice if the tenant agree. If not, then N12?
Only a tenant who is completely clueless about their rights as a tenant would agree to sign an N11 with no compensation.

Assuming you give them an N12 to move into unit for personal use (meaning you shouldn't re-rent unit within 1 year, and not try to sell shortly after), the tenant will either accept it and agree to move, or they will decide to challenge the N12 with the LTB. They can claim you don't really intend to move in or whatever reason they can think of.

If you think tenant will challenge, then you can simultaneously submit an L2 form to the LTB to start the hearing/eviction process. Fee is $200. http://tribunalsontario.ca/documents/lt ... 200401.pdf

Who knows how long it takes for LTB to schedule hearings these days for N12s, but there's a chance if tenant challenges then it may take longer than 60 days to get them out.
Sr. Member
Apr 20, 2018
702 posts
105 upvotes
Mississauga, ON
CNeufeld wrote: You have to pay them one month's rent. Their last month deposit goes towards their last month's rent. If they want to use the money you give them to pay their rent next month, that's on them.

If you can get an agreement on the N11, then the date is flexible. It's a mutual agreement to end the tenancy, so any date the two of you agree on is not an issue. Could be next Friday, if they want to move out ASAP.

Keep in mind the 60 days notice for the N12 has to end on the end of a lease period (typically, last day of the month). You can give them more than 60 days notice if you want. For example, you could give them notice today, but the termination date would be Oct 31.

C
Gotcha ...thanks for the info

I see why N11 harder to get over N12... N12 get tenant a month of compensation.

Top