Quote:
Originally Posted by Great68
Everyone here needs to back up here a second, where is everyone getting the idea that a new tenancy agreement must be signed?
From the RTB:
When a Tenanted Property Has Been Sold
Once a property is sold, the buyer becomes the new landlord and the tenancy continues under the same terms. The buyer and the tenants don’t need to sign a new tenancy agreement, but may do so if they both agree.
So your tenant doesn't have to sign a new agreement. If the old agreement didn't state a lease term, than he's month to month. Basically the only way you can get him out is for Cause, or if you intend to occupy the unit, or if you plan to do extensive repairs and renos.
The latter would be the best way to get him out because you said you want to expand the suite. Do some upgrades (Paint, new fixtures, flooring, appliances) and he can't dispute that.
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This.
Also, while the standard rent increase allowed by the RTA is 2.5%, you can also petition them for a higher amount. Depending on your reasoning, they may or may not approve your request, or may even suggest a compromise between the two.