Can I Sell the property?

[Brit]

I live in Vancouver and have a rental property with the tenants on a 12 month lease. Do I have to wait until the end of the lease before selling the property, or can I give them notice?

 

[Minoune79]

QUOTE (Brit @ Jun 10 2010, 11:11 PM) I live in Vancouver and have a rental property with the tenants on a 12 month lease. Do I have to wait until the end of the lease before selling the property, or can I give them notice?

Hi Brit,

I believe you can sell the property with the tenants inside, its just that the new buyer will have to respect tenant rights and allow the tenants to stay until the lease expires - this is how it works in Saskatchewan. However, in Alberta, I believe you must give the tenants 3 months notice to move out due to a sale of the property. I know this doesn`t answer your question exactly (as you are in BC), but it may give you an idea of what to expect.

Hope this helps,

Josee Guindon
Premium Property Solutions Inc
www.ClickMyPlace.com
[email protected]

 

[invst4profit]

http://www.rto.gov.bc.ca/documents/Guides/ACT_English.pdf

10.6.3

 

[Brit]

QUOTE (invst4profit @ Jun 11 2010, 06:24 AM) http://www.rto.gov.bc.ca/documents/Guides/ACT_English.pdf

10.6.3

Thanks very much

 

[Thomas Beyer]

QUOTE (Brit @ Jun 10 2010, 10:11 PM) I live in Vancouver and have a rental property with the tenants on a 12 month lease. Do I have to wait until the end of the lease before selling the property, or can I give them notice?

Where you live doesn`t matter (to this issue here). It matters where the property is. I assume it is also in BC !

In BC, you or the new owner can cancel the tenancy with TWO months notice and payment of one month rent to tenant as compensation if he intends to do major renovations or intends to use it personally.

You cannot cancel lease just because you wish to sell it !