# Selling a unit to renters who are month to month



## desmondo (Jul 27, 2013)

Hello All,

We currently have a 2 bdrm condo that we are renting. The tenants were on a year lease, and it is now month to month.

We are in the process of selling it. How long of a notice must we give the tenants if the place is sold and the new owners want to move in. 

Thanks!


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## marina628 (Dec 14, 2010)

desmondo said:


> Hello All,
> 
> We currently have a 2 bdrm condo that we are renting. The tenants were on a year lease, and it is now month to month.
> 
> ...


60 days is standard.


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## desmondo (Jul 27, 2013)

*Compensation*

Yeah thats what I was thinking. We have someone interested in the condo and they want to potentially move in 1 month. Is offering compensation to the tenants to have them move out in 1 month an option? How much should we offer? It is a 2 bedroom with 2 people living in it.


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## Rusty O'Toole (Feb 1, 2012)

That will be up to the new owners. They may be investors who want to keep the present tenant. If they want the unit for themselves or a family member they can evict the present tenant in 60 days.

Wait until you have a firm offer before you do anything. Except, I hope you have discussed the sale with the tenants and let them know where they stand. I suppose they know it is for sale but you owe them the courtesy of explaining the situation, either you or the real estate agent should sit down and talk things over with them.

If the buyers want to move in sooner than 60 days that is between them and the sellers. They may be willing to move earlier or they may not. You should not get involved in this. Let the real estate agent handle it. He or she must get everything in writing. If they come to an agreement and the tenants change their mind and decide to stay the extra month you do not want to be caught in the middle. In other words you can sell them the house but do not guarantee vacant possession. Your lawyer can tell you how to handle it legally.


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## Berubeland (Sep 6, 2009)

If you are in Ontario it can be a problem, it is 60 day notice but must be given before the beginning of the term. So lets's say you get an offer on August 10th the earliest the new owner could move in is Oct 1st. As soon as you give the notice you should file with the Landlord & Tenant Board. There is a big difference between asking someone to leave and forcing someone to leave. Giving the notice is asking but taking that notice to the Landlord & Tenant Board and the sheriff after is "forcing" them. In Toronto, just getting the Sheriff takes 4-6 weeks so you can imagine that as the seller you would be in default of your obligations to the buyer, if you offered vacant possession. 

Personally, I wouldn't buy a tenanted property unless the seller was responsible for vacant possession. Most landlords do not sell properties with great tenants paying decent rent in them. They sell problems. Don't let their old problem become your new problem. 

Tenants with a lease can't be moved out unless you agree and negotiate a deal. They cannot be "forced" until the end of their lease


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## dougboswell (Oct 25, 2010)

Berubeland said:


> If you are in Ontario it can be a problem, it is 60 day notice but must be given before the beginning of the term. So lets's say you get an offer on August 10th the earliest the new owner could move in is Oct 1st. As soon as you give the notice you should file with the Landlord & Tenant Board. There is a big difference between asking someone to leave and forcing someone to leave. Giving the notice is asking but taking that notice to the Landlord & Tenant Board and the sheriff after is "forcing" them. In Toronto, just getting the Sheriff takes 4-6 weeks so you can imagine that as the seller you would be in default of your obligations to the buyer, if you offered vacant possession.
> 
> Personally, I wouldn't buy a tenanted property unless the seller was responsible for vacant possession. Most landlords do not sell properties with great tenants paying decent rent in them. They sell problems. Don't let their old problem become your new problem.
> 
> Tenants with a lease can't be moved out unless you agree and negotiate a deal. They cannot be "forced" until the end of their lease


Would the earliest date be Nov.1st. If the tenants are month to month and pay on the first of the month the 60 day notice would have to be given before Sept 1st which bumps the move in to Nov 1st

If I were the tenant I would only agree to move out early if I was given enough money to cover the 1st and last months rent for a new place. I would ask for moving expenses plus extra for the inconvience.


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## marina628 (Dec 14, 2010)

There ia no guarantee they could get a place in less than 60 days so I would never count on closing any earlier than 60 days. We are planning to sell one investment property in Ontario next year to buy more in USA and we are going to get tenants out before we sell.Too many headaches trying to sell with tenants in place.


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