If you are comfortably renting and you suddenly get a notice saying your landlord is selling the house, there are probably a million questions running through your head. Can they do that? What are your rights? What happens to you? Will you remain a tenant or have to find a new place?
Can They Sell The Home I Am Renting?
Your landlord is the rightful owner to the property and the home you are renting, therefore yes. They can sell the home whenever they please. But, they cannot sell the home before your term is up. They must also provide you with a letter, usually 60 days in advance, to tell you they will be selling the home.
Can They Show The Home While I Am Still Renting?
Yes. They own the home and can show it to buyers while you are still a tenant. You should be notified 24 hours in advance as to when the showings will take place. The owner (or their real estate agent) will also have the right to take photos of your rental unit to advertise the property. You do not have to leave the property during showings.
Will I Be Evicted?
Just because the home you are renting is being sold does not necessarily mean you need to find a new place to live. If they want to sell the home including your rental unit, you can stay until your lease/term ends, unless negotiated otherwise. Your landlord cannot give you a 60-day eviction notice and then decide to not sell the home. They can be sued if this ever occurs.
Can My Landlord Renovate While I Am Still Renting?
Yes, they are allowed to also renovate or provide upgrades while you are still there. Speak to your landlord about living conditions and if you have to pay for a hotel in the meantime. Once the renovations are complete, you can move back in.
The New Homeowner Wants To Become My Landlord
If you did not want to move or find a new place, having the new homeowner take over as landlord may be great! They must comply with the terms and conditions the previous landlord had, meaning you will have the same terms and conditions and should not have to pay higher rent.
What Are Different Terms Involved With Renting & How Will It Affect My Eviction?
If you agreed to a month-to-month term, then you will receive a 60-day eviction notice from your landlord. If you have agreed to a fixed-term tenancy and your term is not up for another two years, you can stay in your unit until the term ends. Even if the home sells and new owners move in, you are legally allowed to stay.
Knowing your rights as a tenant is very important and it is wise to always read the fine print when signing terms and conditions. Go over everything with your landlord and make sure you are comfortable asking questions if things are unclear. Develop a trusting relationship with them so if they do decide to sell, you are not leaving on bad terms.
Need an expert's opinion? Our real estate agents can help:
Agent Name: Lisa S. | View Agent Profile>>
Serving Area: Toronto
"In addition to her real estate services, Lisa is an active property manager for a portfolio of income properties on behalf of landlords across the GTA."
Agent Name: Cory M. | View Agent Profile>>
Serving Area: Hamilton, Niagara Falls, St. Catharines, Toronto
"With a background in building houses and owning managing rental properties of my own, I have the ability to see problem areas most may not notice."
Agent Name: Mary W. | View Agent Profile>>
Serving Area: Cambridge, Guelph, Kitchener-Waterloo
"We’re focused on doing our best, not being the best; that means serving our clients with total compassion and the highest standards."