Multi Year Residential Lease - Is it month to month after 1st year even on multi year lease
I'm a landlord and currently have a multi year lease with my tenant ending in 2022.
I've received conflicting information telling me that no matter what in Ontario after the first year of the lease it turns into a month to month lease. This will make a difference if I want to move back into my house before 2022.
Quoted from:
https://pierrecarapetian.com/selling-a- ... d-tenants/
HOW TO SELL A TENANTED PROPERTY IN ONTARIO
When it comes to selling a tenanted property in Ontario, the first thing to know is that if your tenants are still within the first year of their lease, you have to honour the terms of their lease. It’s best to wait to list your property for sale until the end of their year lease or wait to sell the property till they are on a month-to-month lease.
It’s important to note that all leases that continue beyond a year, by law, move to month-to-month even if you and your tenant have signed a subsequent one year lease.
I've received conflicting information telling me that no matter what in Ontario after the first year of the lease it turns into a month to month lease. This will make a difference if I want to move back into my house before 2022.
Quoted from:
https://pierrecarapetian.com/selling-a- ... d-tenants/
HOW TO SELL A TENANTED PROPERTY IN ONTARIO
When it comes to selling a tenanted property in Ontario, the first thing to know is that if your tenants are still within the first year of their lease, you have to honour the terms of their lease. It’s best to wait to list your property for sale until the end of their year lease or wait to sell the property till they are on a month-to-month lease.
It’s important to note that all leases that continue beyond a year, by law, move to month-to-month even if you and your tenant have signed a subsequent one year lease.
