Joel DyckReal Broker SK Ltd.
Saskatoon · From the topic map

Should I sell my Saskatoon multi-family with tenants in place or deliver it vacant?

It depends on your buyer pool. An investor generally wants tenants in place with a documented rent roll, since that proves the income the Residential Tenancies Act, 2006 requires them to honour, while a buyer who plans to live in one unit usually wants it delivered vacant.

Selling with tenants in place keeps cash flow going through the sale and appeals to the Saskatchewan REALTORS Association's investor segment, but it also means the new owner inherits the existing lease terms exactly as written, rent and all.

Delivering vacant widens your buyer pool to owner-occupiers, but ending a tenancy takes proper notice under the Act and cannot simply be done because you found a buyer, so the timeline needs to be planned well before listing rather than after an offer comes in.

A lawyer reviewing the leases as part of a typical $800 to $1,500 closing file can flag which units carry restrictions before you commit to either path. Get your hand-reviewed valuation from Joel Dyck.

Get your hand-reviewed valuation from Joel Dyck.

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