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Updated almost 6 years ago on . Most recent reply

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21
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Daniel Rosa
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21
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buying a house with an existing tenant question.

Daniel Rosa
Posted

How realistic is it to evict an existing tenant if you buy a property that you intend to renovate? (Hamilton to St.catharines area)

I have heard that eviction responsible if major repairs are planned.

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13
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19
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George W.
  • Rental Property Investor
  • Belleville, Ontario
19
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13
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George W.
  • Rental Property Investor
  • Belleville, Ontario
Replied

You can evict for renovation but legally you have to offer the place back to the same tenant at the same price after they are done :(

You can do N12 for personal use but you need to not rent it for 12 months. An option if it’s EXTENSIVE renovations.

Stupid RTA.

Alternatively if you haven’t made a offer already, add the condition of vacant possession and requiring a signed N11 and filed L2 to ensure they follow through with it. The seller can figure how they want to “motivate” the tenant to move out with some cash.  Add another clause saying you get a x amount discount if tenant is still there by closing (approx however much it will take to buy the tenant out, usually a few months rent).

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