When selling your property with a ‘standing’ tenant it is important to consider the tenants’ rights and obligations. For example there is a provision in the RTA (Residential Tenancies Act) to allow the seller or seller’s agent to access the property with a ‘reasonable notice period’. It is also important to know a fixed term tenancy remains even after an unconditional sale takes place. Tenants may only be given notice to vacate after the expiration of the said lease. If the lease is periodic (i.e. month to month) there is a provision to end the lease with a minimum period of 60 days after the sale becoming unconditional, when the incoming purchaser is residing in the property. If the property is simply an investment property being rented out, again the 60 days notice is required.

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