first post here, did some reading on some other threads and posts in here and found some good info, I've got a somewhat specific question:
We're selling our Triplex in a downtown Ontario city, we're owner occupied, meaning we live on the 1st floor, and have 2 more units above us that are occupied. One of the tenants is 84 years old, and has lived there for 40 odd years, the other tenant has been there for 5-6 years and is also month to month. As a result their apartments have not been renovated in 40+ years, and the amount they are paying in rent is about half of market value.
Our buyer has requested that we have the units all vacant (no problem for ours, we're happy to move out). The 2 tenants, from my understanding the buyer can request to have the apartments for personal use, or for renovations requiring permits which I read about here: http://www.ltb.gov.on.ca/en/Key_Info...02_111677.html
Would I as the seller be providing notice to the tenants (60 days?), is there anything that the tenants would be able to do to prevent themselves from being evicted. If I do provide notice for the eviction, close on the house and they refuse to leave can my sale be compromised?Other Reasons for Eviction:
- the landlord has agreed to sell the property and the purchaser wants all or part of the property for their own use or for the use of an immediate family member or a caregiver,
- the landlord plans major repairs or renovations that require a building permit and vacant possession,
thanks for your input