- Joined
- Feb 9, 2009
- Messages
- 83
Hi folks -
I currently have an offer on a 5-plex and the property will only be profitable if I`m able to do a minor renovation to each unit (doing that renovation will effectively turn each 1-bedroom apartment into a 2-bedroom apartment).
To do the renovation I obviously need each tenant to vacate their apartment. My understanding of the Residential Tenancies Act is that I`m able to terminate tenants` leases (with four months` notice) if I give them first right of refusal to come back to the apartment.
Does anyone have experience doing this in Ontario? I`d greatly appreciate knowing how this process works, and if it`s as hard as it seems.
Cheers,
Moe
I currently have an offer on a 5-plex and the property will only be profitable if I`m able to do a minor renovation to each unit (doing that renovation will effectively turn each 1-bedroom apartment into a 2-bedroom apartment).
To do the renovation I obviously need each tenant to vacate their apartment. My understanding of the Residential Tenancies Act is that I`m able to terminate tenants` leases (with four months` notice) if I give them first right of refusal to come back to the apartment.
Does anyone have experience doing this in Ontario? I`d greatly appreciate knowing how this process works, and if it`s as hard as it seems.
Cheers,
Moe