How do I sell a tenanted condo?
Want to sell a tenanted condo now? Read this and sell it fast, legally, and for top dollar.
Quick answer — yes, you can sell a tenanted condo
You can sell a tenant-occupied condo. Do it right and you get market value. Do it wrong and you face delays, legal headaches, and lost money. Follow a clear process: verify the lease, communicate with the tenant, set a tight marketing plan, and close with written agreements.
Confirm the lease and tenant rights
Start with the paper. Review the lease, start/end dates, rent amount, and any renewal clauses. Check provincial laws: tenant rights vary. In many markets tenants have the right to stay until lease expiry unless both parties agree otherwise. If the buyer wants vacant possession, that must be negotiated and clearly documented.
Put together a legal checklist
- Lease copy and rent receipts
- Condo corporation rules and status certificates
- Notice requirements for showings (timeframes vary by jurisdiction)
- Any outstanding maintenance or legal disputes
This reduces surprises and speeds closing.
Price and market the property like a vacant unit
Price for the buyer’s perspective. Investors pay for cash flow; owner-occupiers value vacant possession. Create two marketing tracks: investor buyers and buyers willing to buy with tenant in place. Use keywords in listings: “tenant-occupied condo”, “rented condo for sale”, “investment condo”, “tenant in place” to capture both buyer types.
Showing strategy that respects tenant rights
Respect tenant privacy and follow notice rules. Offer incentives: schedule blocks of showings, provide a digital showing package (video tour, financials, condo docs) to reduce in-person visits. Pay for professional photos and a floor plan — they sell the unit without disturbing the tenant.
Negotiate smart: structure clean offers
Expect offers that reflect the tenancy. If buyer wants vacant possession, include timelines and compensation terms. If buyer accepts tenant, provide existing lease details and clear assignment terms. Insist on written clauses about possession, repairs, and security deposit transfers.
Closing: pass the keys and the facts
On closing day, transfer the tenant’s security deposit per local law, hand over files, and provide a move-in/move-out inspection record if applicable. Ensure condo corporation records and keys are ready.
Why hire a specialist
Selling a tenanted condo is a negotiation, legal, and marketing job all at once. A realtor who does this daily minimizes vacancy risk, maximizes price, and navigates tenant law. I handle documentation, protect you from delays, and attract the right buyers quickly.
Ready to sell your tenanted condo with confidence? Contact Tony Sousa for a fast, legal sale tailored to your goals. Email: tony@sousasells.ca | Call: 416-477-2620 | https://www.sousasells.ca
