Tired Landlord? How to Sell a Tenant-Occupied Property in Ontario

Being a landlord in Ontario comes with significant responsibilities — problem tenants, unpaid rent, property damage, and the complexities of the Residential Tenancies Act. If you are ready to sell, here is what you need to know.

Can You Sell a Tenant-Occupied Property?

Yes. You have the right to sell your rental property at any time, even with tenants in place. The tenants have rights too — but selling is absolutely your right as the property owner.

Your Options

Option 1: Give Tenants Notice to Vacate (N12)

If the buyer intends to move in personally, you can serve the tenant with an N12 notice. The tenant has 60 days to vacate. This process can be unpredictable and may face challenges at the Landlord Tenant Board.

Option 2: Sell with Tenants in Place

You sell the property with the existing tenancy agreement transferring to the new owner. The buyer takes over as the landlord. This is often faster and avoids LTB proceedings entirely.

Option 3: Cash-for-Keys Agreement

You negotiate with the tenant to leave voluntarily in exchange for a cash payment. Often the fastest and most amicable solution.