What Happens If The Owner Sells The Property?

If the owner sells the property, tenants in Ontario, Canada, have specific rights and protections under the Residential Tenancies Act (RTA). Firstly, if you are on a fixed-term lease, the new owner must honour the lease agreement until its end date. You can continue living in the property under the same terms and conditions until the lease expires. If you are on a month-to-month lease, the new owner can choose to continue renting the property to you under the same conditions.

However, if the new oner intends to use the property for personal use or a family member, they must provide you with a minimum of 60 days’ notice before the end of a rental period. This notice must be in writing and given using the appropriate form. The new owner must also compensate you by providing either one month’s rent or offering another acceptable rental unit.

During the sale process, your landlord must give you at least 24 hours written notice before any showings and can only show the property between 8 a.m. and 9 p.m. As a tenant, you have the right to maintain your privacy and peaceful enjoyment of the property during this time.

If you receive a notice to vacate because the property is being sold, knowing your rights and options is essential. You may be eligible for compensation, and if you believe the notice is not legitimate, you have the right to file an application with the Landlord and Tenant Board to dispute it.

In summary, while the sale of the property can lead to changes in your rental situation, Ontario’s RTA ensures that you are protected and have sufficient time and support to make necessary arrangements. Always consult the RTA or seek legal advice if you have any concerns or questions about your situation.

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