Toronto, Mississauga, Oakville, Brampton, Burlington, Milton, Etobicoke / Ontario / Canada
Some useful hints and information about the act
Landlord and Tenant Issues in Ontario
The reader will note that there are many important issues and considerations when it comes to renting out a Real Estate Property in the province of Ontario. Other real estate agents often inquire regarding any important rules agents must know on listing or presenting a condo when tenants currently occupy the unit?
The short answer is yes. If a single tenant has lived in the condo since June 17, 1998, the condo owner can't evict the tenant and transfer ownership to a new owner. This is called Security of Tenure. Therefore, if you are interested in buying a condo and before you take a listing for a condo, or before showing a client a condo, it's crucial that you know whether the unit currently has tenants and when those tenants moved in.
Of course, in all instances a landlord may informally request the tenant to leave, and the tenant may agree to do so or they may not leave. However, a landlord cannot require a tenant to agree to end a tenancy, or to sign, at the start of the tenancy, an agreement to end the tenancy at a later date, this is not legal. As well, in Ontario it is an offense for a landlord to illegally lock a tenant out of their rental unit or the building.
If a landlord is convicted in Provincial Court under the Provincial Offenses Act, they could be fined up to $25,000 if the landlord is an individual and 4 times that fine if the landlord is a corporation.
As well in Ontario, if the tenant finds out about Security of Tenure after they move out, they have up to a year to re-claim their tenancy in the condo. If the tenant won't leave or the landlord has to pay the tenant a settlement to leave, the agent is liable to be sued.
In all instances of the situations above, an agent can be held liable by the tenant and the Ontario government for not informing or misinforming the landlord client of the pertinent landlord/tenant laws.