Ontario Landlord Lawyer – evictions, mediation, buying or selling a property with tenants, Landlord Tenant Tribunal https://t.co/vdHLib9RTu
— Landlord Law Canada (@Landlord_Law_CA) December 22, 2015
If landlord sells the property, the new buyer takes the property subject to the tenant's lease http://t.co/qERhHWdFZf Easier to sell vacant
— Landlord Relief (@LandlordRelief) August 5, 2014
This is a question that we get again and again.
What happens if:
1. You are the landlord of a property which is occupied by a tenant with a lease? and
2. You wish to sell the property.
The answer is that that the landlord is free to sell the property, but that the property will be sold subject to the existing lease. It is obviously easier to sell a vacant property. That’s the bottom line. Landlords who own investment properties need to know and understand this.
For a detailed analysis see an earlier post on this issue.