Determining if a property has tenants

What do you need to know?

If there is an existing lease agreement with someone who pays rent to live in the property you are selling, the property has tenants. A Tenant has rights under the Residential Tenancies Act and the Tenant Protection Act that require they be properly notified of any conclusion of their lease that requires them to move out.

Why does it matter to Ownright?

If someone is renting all or part of your property and the buyer intends to move into the rental space upon the ownership transfer, you are responsible for notifying the tenant that their lease is ending. If you haven’t notified the tenant, there may be a delay in their moving out of the property, which will require us to work with the purchaser's legal team to come up with a solution.