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Old 01-09-2019, 12:32 PM   #13755
TouringTeg
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Regarding selling (or buying) a property that is currently tenanted. I have been researching it as I plan to sell my rental house (tenanted top and bottom) in the next year or two.

I already sold a condo that was tenanted in 2018. In that case our tenants gave notice they were leaving and were really flexible with showings. They had nice furniture and always kept it clean and tidy. We had a buyer very quickly and sold it. We had our tenants sign a letter stating they would be leaving the property on X date so that we could provide this to the buyers. Just some extra piece of mind for the buyers.

In the case of my rental house, my downstairs tenants are clean and flexible but the upstairs are not flexible and don't want anyone in the unit when they are not present. They are also extremely messy and dirty so it will not go well. The upstairs could also use repainting.

Rather than evicting for landlord use of property, we plan to offer them money to find another place to live. At least 1.5 to 2 times the monthly rent. I have heard of this done successfully as it provides incentive to find another home with the knowledge that the house is for sale and they may be evicted anyway. It is so much easier to sell a vacant home that rather than deal with tenants are messy and difficult. Often tenants are frustrated or angry that they are being evicted and will not present your property in a positive way.

A buyer can request a seller end the tenancy for landlord use of property. Two months notice is required and the tenant receives one month free. As stated on the previous page it cannot be a requirement of the sale. It is simply a request.

https://www2.gov.bc.ca/gov/content/h...o-month-notice
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Last edited by TouringTeg; 01-09-2019 at 12:43 PM.
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