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Wednesday, February 24, 2010

Landlord Series - Notice Of Termination (Part 4)

The Landlord Series are various tips to help the owner of a rental property become a better and more informed landlord.

In this series we explain the Notice of Termination (Part 4)

Today we are going to explain the Notice of Termination - Landlord Sells Rental Unit

When a landlord sells a rental unit, they can give the tenant notice to move:
  • if the purchaser asks them, in writing, to give the tenant notice because the purchaser plans to occupy the rental unit, or plans to have their family members move in
  • once all the conditions for sale are finalized

NOTE: a landlord cannot give a tenant notice to move simply because they plan to sell the rental unit

The termination notice must be delivered to the tenant or an adult at the rental unit.

How much notice must you give?

  • one rental pay period for those tenants on a month-to-month tenancy
  • at least 3 months notice to those tenants on a fixed term tenancy (i.e. year lease)

If there are school age children living in the rental unit, the tenant can stay in the unit until the end of the school year as long as the children go to a school that is conveniently accessible to the rental unit.

Also note the landlord is responsible to pay up to $350 of the tenants moving expenses when terminating the tenancy agreement for these reasons.

Got questions? Email us at owners@garamark.net

Garamark Property Management is located in Winnipeg, Manitoba and sucessfully balances protecting the investment of an owner while retaining happy tenants.

www.garamarkpropertymanagement.ca

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