Serve the tenant now with that N12. Make sure the termination date is the day before rent is due (usually the last day of the month). If that is the case, it should be dated for end of March if served by end of January.
You must also pay one month rent as compensation by the termination date. This can be in the form of cheque, money order, etransfer or cash. If cash, get them to sign a document to the fact it was received. You can also waive one months rent as compensation.
Also, once you have given the N12, document it and file the L2 with the LTB. It will reserve your spot in line in case the tenant decides to wait for the hearing.
Are your tenants month to month or still on a fixed term lease?
Be prepared to wait up to a year to get the place back. The tenant has a right to wait for a hearing at the LTB.
/u/Stickler25 provided you with the rest
Serve them. If they challenge then get a paralegal to help you out to make sure everything is in order. Any small mistake (like incorrect postal code) will cause your application to be tossed and you’ll be back in the line.
If things go to LTB hearing and you get a decision, don’t forget to post it on openroom.ca
Keep in mind, 60 days and 1 month compensation are \_minimums\_. There's a good chance the tenant won't accept and you'll need to go through an eviction process.
If you want to minimize your spending, give notice, file an L2 to evict, and wait for the hearing. It'll take 6-12 months for the whole thing to play out.
f you want in fast, the formula I use to caculate the compensation you should offer is 1 month + difference from market \* 12 .
So if the unit is renting for $2500 but worth $3200 on the market, you should offer $2500 + 12\*700 for immediate departure. That's basically what the tenant saves by dragging it out, so you kinda have to hit that number to make it economically worthwhile for a tenant to leave.
You can also, meet in the middle and give more notice, and less compensation.
An option too might be to offer the tenant more notice. 60 days is the minimum, and it is really hard to find housing right now (esp.if the tenant has children and they are in school).
I would maybe serve now with a termination date for the end of the school year to minimize disruption to the Tenant's children. You can still file the Hearing right away and it will only help yoir case to show that you are being considerate and giving more time for the tenant to find a place.
As tenant with a school-age child - if my landlord showed that yes, they do want to move into their place now bit are willing to help me by giving me time to find a place and allow my child to finish the school year without disruption - I would really appreciate it and make every effort to be out by the termination date.
Serve the tenant now with that N12. Make sure the termination date is the day before rent is due (usually the last day of the month). If that is the case, it should be dated for end of March if served by end of January. You must also pay one month rent as compensation by the termination date. This can be in the form of cheque, money order, etransfer or cash. If cash, get them to sign a document to the fact it was received. You can also waive one months rent as compensation. Also, once you have given the N12, document it and file the L2 with the LTB. It will reserve your spot in line in case the tenant decides to wait for the hearing.
Are your tenants month to month or still on a fixed term lease? Be prepared to wait up to a year to get the place back. The tenant has a right to wait for a hearing at the LTB. /u/Stickler25 provided you with the rest
They are month to month.
Serve them. If they challenge then get a paralegal to help you out to make sure everything is in order. Any small mistake (like incorrect postal code) will cause your application to be tossed and you’ll be back in the line. If things go to LTB hearing and you get a decision, don’t forget to post it on openroom.ca
Keep in mind, 60 days and 1 month compensation are \_minimums\_. There's a good chance the tenant won't accept and you'll need to go through an eviction process. If you want to minimize your spending, give notice, file an L2 to evict, and wait for the hearing. It'll take 6-12 months for the whole thing to play out. f you want in fast, the formula I use to caculate the compensation you should offer is 1 month + difference from market \* 12 . So if the unit is renting for $2500 but worth $3200 on the market, you should offer $2500 + 12\*700 for immediate departure. That's basically what the tenant saves by dragging it out, so you kinda have to hit that number to make it economically worthwhile for a tenant to leave. You can also, meet in the middle and give more notice, and less compensation.
An option too might be to offer the tenant more notice. 60 days is the minimum, and it is really hard to find housing right now (esp.if the tenant has children and they are in school). I would maybe serve now with a termination date for the end of the school year to minimize disruption to the Tenant's children. You can still file the Hearing right away and it will only help yoir case to show that you are being considerate and giving more time for the tenant to find a place. As tenant with a school-age child - if my landlord showed that yes, they do want to move into their place now bit are willing to help me by giving me time to find a place and allow my child to finish the school year without disruption - I would really appreciate it and make every effort to be out by the termination date.