As top Vancouver realtors, we often list condos and houses occupied by tenants. Selling tenanted properties in Vancouver can be complex and sellers should be educated on the process.
Realtors and home sellers professionals must exercise great diligence and act in the best interest of their clients while adhering to the tenancy laws of BC – The residential tenancy act.
What Sellers Need to Know
When representing sellers who wish to sell a tenant-occupied property, there are several key points that require careful attention.
Firstly, it is crucial to review the terms and conditions of the existing lease agreement between the landlord and the tenant. This helps in understanding the rights and obligations of both parties and ensures that the sale process complies with the legal framework.
Additionally, we need to coordinate with the tenant to arrange property showings, taking into consideration their rights to privacy and peaceful enjoyment of the premises. Communication and negotiation skills are paramount to maintain a positive relationship with the tenant throughout the selling process.
Additionally, we need to coordinate with the tenant to arrange property showings, taking into consideration their rights to privacy and peaceful enjoyment of the premises. Communication and negotiation skills are paramount to maintain a positive relationship with the tenant throughout the selling process.
Representing Vancouver Home Buyers - A Purchase of a Tenanted Property
When representing sellers who are selling tenanted property in Vancouver, there are several key points that require careful attention.
Firstly, it is crucial to review the terms and conditions of the existing lease agreement between the landlord and the tenant. This helps in understanding the rights and obligations of both parties and ensures that the sale process complies with the legal framework.
Additionally, we need to coordinate with the tenant to arrange property showings, taking into consideration their rights to privacy and peaceful enjoyment of the premises. Communication and negotiation skills are paramount to maintain a positive relationship with the tenant throughout the selling process.
When we represent home buyers who are interested in purchasing a tenant-occupied home, there are specific considerations to keep in mind.
It is vital to review the current lease agreement and ascertain its terms, including the duration and rental amount. Understanding the rights and obligations of the tenant is essential to determine if the property will meet the buyer’s requirements and investment goals.
Furthermore, buyers need to be aware of the possibility of assuming the existing lease or providing proper notice to the tenant to vacate the premises, depending on their intended use of the property.
Regardless of whether we represent sellers or buyers in these transactions, our role as real estate professionals is to navigate the complexities of tenancy laws and ensure that our clients’ interests are protected. By staying well-informed about the BC tenancy laws and maintaining open and transparent communication with all parties involved, we can successfully guide our clients through the process of buying or selling a tenant-occupied property.
A Case Study - Tenancy Dispute to Vacate the Home
We have recently represented an owner who went through a dispute resolution process, which brought to light several important points that both sellers and buyers should be aware of. During this process, we collaborated with Ramider Arora at Arora Zbar LLP, a local lawyer who specializes in RTB (Residential Tenancy Branch) tenant-landlord dispute resolution. We found the experience to be highly informative and positive, and we would like to share it with our readership.
Let’s delve into the case study:
Our client, the seller, plan of selling their tenanted property in Vancouver. The tenancy agreement was on a month-to-month basis, without a fixed-term lease.
After receiving a successful offer and removing their conditions, a prospective buyer formally requested, in accordance with the RTB guidelines and rules, that the seller provide the tenant with a two-month notice to vacate in order to obtain vacant possession of the property.
The seller promptly tendered the notice to the tenant in writing. However, a week after receiving the notice, the tenant filed a dispute contesting the notice. It’s important to emphasize that it is within the tenant’s rights to challenge a notice to vacate that they believe to be unjust.
The RTB scheduled a dispute resolution hearing, but unfortunately, it was set for a date four months into the future, and two months after the proposed closing of the sale.
This presented a significant issue as, once a dispute resolution date is set, the tenants are automatically granted the right to remain in the property.
At this point, the involvement of a lawyer became crucial in navigating the complex landscape of tenant-landlord disputes.
With the lawyer’s guidance and expertise, we were able to strategize and prepare a solid case for our client, the seller, and ensure that their rights and interests were protected throughout the process.
Mr. Arora provided invaluable guidance on the legal aspects of the case, including interpreting the RTB rules and guidelines, analyzing the tenant’s dispute, and crafting a strong defence.
Through collaborative efforts, we were able to present a compelling argument. Our aim was to demonstrate that the notice to vacate served by our client, the seller, was lawful and in accordance with the applicable regulations. The expertise and representation provided by Mr. Arora played a crucial role in presenting our case effectively and advocating for a fair outcome.
Selling Tenanted Property - Conclusion
Sharing this case study our hope is to shed light on the complexities of tenant-landlord disputes in the real estate market. It underscores the importance of seeking legal advice and representation to navigate such situations successfully. As real estate professionals, we understand the significance of being well-informed and having a network of experts to provide the necessary support for our clients’ best interests.
Whether you are a seller or a buyer involved in a tenant-occupied property transaction, having a knowledgeable real estate team can make a substantial difference in ensuring a smooth and fair process for all parties involved.
If you plan to sell a tenanted property in Vancouver contact us to discuss strategies to set you up for success.
Meet Raminder Arora
Raminder is a civil litigator with a focus on corporate commercial litigation, contractual disputes, alternative dispute resolution, tort liability matters including professional negligence, franchisor-franchisee disputes, and construction disputes.
Contact Details:
Direct: 778-653-2894
Email: rpsarora@arorazbar.com | www.arorazbar.com
Jacky Levi & Raminder Arora of Arora Zbar LLP
