Question About Rent Control

[2ndstory]

I have put an offer on a 4-plex which has been accepted. I wrote it with subject to lawyer`s approval. In Manitoba we have a rental tenancies branch. My lawyer is looking into whether the rents were registered or not. The place is vacant now. I have a feeling that the vendor did not register the rents, but I could be wrong. If they were not registered my lawyer says that it could haunt me in the future since by law, I, as the new owner am responsible for rent rates going back 2 years. If a former tenant comes out of the wood work and claims that they were being overcharged, I might be held liable. Thoughts? Opinions?

Nik

 

[markl]

Couldn`t you write in the offer that the seller would be responsible for any tenancy issues arising from the time he has owned the property?

I am sure your lawyer will be able to provide you with a clause.

 

[2ndstory]

QUOTE (markl @ Oct 13 2010, 01:53 PM) Couldn`t you write in the offer that the seller would be responsible for any tenancy issues arising from the time he has owned the property?

I am sure your lawyer will be able to provide you with a clause.

Hoping so.

Nik