Real Estate

Price difference selling a tenanted home vs vacant one in Toronto (leslieville)

  • Last Updated:
  • Nov 2nd, 2020 2:48 pm
[OP]
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Jan 27, 2004
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Price difference selling a tenanted home vs vacant one in Toronto (leslieville)

What do you think the price difference is when selling a home tenanted (tenant paying below market rent) vs vacant?

The market area is Toronto , Leslieville. On a quiet side street near schools and shopping. Desirable area.
The home is a detached 4 bedroom with basement apartment.

*** anyone know what the difference could be? Even if its a rough estimate?
5% ? 10% ?
Last edited by UrbanPoet on Oct 30th, 2020 3:02 pm, edited 1 time in total.
6 replies
[OP]
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Jan 27, 2004
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FARMERBLANCHE wrote: $0 if the buyers are moving in
Does that consider the fact that it would rule out the following pool of buyers?

1. People who want to live in and rent out the basement for additional income

2. People who want a duplex as an investment property, but unwilling to accept a tenant paying below market rent.
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Jan 2, 2012
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Toronto
UrbanPoet wrote: Does that consider the fact that it would rule out the following pool of buyers?

1. People who want to live in and rent out the basement for additional income

2. People who want a duplex as an investment property, but unwilling to accept a tenant paying below market rent.
There is also a concern that tenant may not want to move even with an N12 presented, forcing need to go through LTB and official eviction process. This could possibly delay the closing date if new buyers need an empty property, or force deal to collapse.

If I was a buyer and needed a home for personal use by a firm date, I would be hesitant to buy any tenanted property these days.
Sr. Member
Feb 19, 2019
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Stouffville ON
Yes there could be a difference, vacant home is easier to show, easier to stage, easier to keep presentable. Buyers have no worries about vacant possession.
I have had few cases where we had scheduled the showings 24 hours in advance and the tenant still wouldn't let us in, it doesn't happen very often but it does.
Full Time and Full Service Realtor
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Feb 29, 2008
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Depends. Are your tenants nasty? Are they difficult? If so the answer is obvious.

The challenge these days is will thry be willing to allow people to look at the house.
? I know someone with a tenant who has been very difficult. They won’t allow anyone to view the home due to COVID (which I don’t blame them).

Selling an empty home removes a lot of headaches.
Sr. Member
Jan 20, 2012
737 posts
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Toronto
Sold my property last month. It was hard to sell with tenant occupied. Buyers afraid that tenant doesn't want to move out or new investor unable to rise rent with lease takeover. House was in the market for 60+ days while everybody sold under 10 days in the same area. House relisted after tenant moved, Sold in a week at market price.

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