Monday, March 17, 2014

Let's Throw That Tenant out!

How do you EVICT that tenant? 

You can evict a tenant if they are behind and you have an order for Possession from the Land Lord Tribunal

OR Terminating for Demolition, Change of Use of Substantial Renovation, Must have Municipal Approval, Building Permit, If more than 4 units compensate Tenant with 3 months rent, or find the tenant another place to live, In a substantial Renovation the Tenant has the right to return to their previous unit.

OR If you need the unit for your own immediate family use*
*provided that the unit is less than 3 units

OR If there is a problem with conduct, make repairs to unit with 7days or cease poor behaviour, The same process can be applied for because of animals or smoking,

It may be sufficient that the insurance should be IN Force as required in the lease or that Utilities have not been transferred into their name.

Are you buying a property expecting to THROW that tenant out? Terminate the tenancy?

If the tenant has a lease It is assumed that during the period of Due Diligence you verified the tenant details. Generally if there is no lease (the tenant is month to month) a 60 days CLEAR notice is required and must be made in Good Faith.

or your own PEACE of Mind  schedule the closing at least 30 days post the intended vacant possession.

In the Agreement of Purchase and Sale a clause like the following should be included;

" The BUYER agrees that they or their immediate family intends to move into the property on closing. In this regard, the SELLER agrees to provide the applicable 60 days notice to the tenant using Form N12 under the Residential Tenancies Act, on the behalf of the Buyer. The BUYER agrees to provide whatever support information may be required to demonstrate that the buyer or their immediate family will in good faith be moving into the property on closing. In the event that the tenant disputes the notice given, then the parties agree to extend the closing of this transaction to a period not more than 30 days, in order to effect the eviction of the  tenant. 

In the event that vacant possession cannot be obtained prior to closing, as extended for any reason, then the BUYER shall have the right, but not the obligation, to complete the transaction and accept the tenant, or cancel the agreement and have any deposit returned, without interest or deduction."

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David Pylyp 647 218 2414

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