Real Estate

What are the new rules in Ontario regarding selling a tenanted condo?

  • Last Updated:
  • May 5th, 2019 11:34 am
[OP]
Deal Guru
Feb 29, 2008
13823 posts
10034 upvotes

What are the new rules in Ontario regarding selling a tenanted condo?

I did this a number of years ago and gave the tenant 2 months notice to end the lease. He was month to month. Has anything changed? From what I understand I have to sell the place first then give the tenant an n12 to vacate in 60 days?
1 reply
Sr. Member
May 3, 2013
643 posts
199 upvotes
Toronto
The buyer has to assume the tenant, unless the buyer (or the list of eligible parties as indicated in the N12) moves in. You should get a written statement from the buyer that they are actually moving in before you issue the N12. If the new buyer doesn't move in, the tenant may complain to LTB and someone may get fined for the illegal eviction. With a written statement, you are covered. As always, consult your lawyer to ensure your interested is fully covered.

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