Selling Tenanted Property
Selling property that is tenanted poses several challenges for Ontario landlords and realtors. Firstly, Ontario law does not allow the landlord to get possession of a property for the purposes of selling. Generally, the property must be sold with the tenant in place. Only if the purchaser intends to use the property as a residence can the purchaser commence legal proceedings to remove the tenant at the end of the tenants lease. Proceedings cannot be commenced until after and agreement of purchase and sale is signed. Unless the tenant agrees to move the result is that the property must generally be listed, shown and sold with the tenant in place. Living in a unit that is listed for sale is not fun with constant showings and very little privacy. Often if you explain the situation a prudent tenant will prefer to leave beforehand rather than suffer the inconvenience only be faced with the same eventuality. Alternatively if the premises are exempt from rent control a rent increase