Residential Tenancy Regulation Update

This summer we told you about changes to the Residential Tenancy Act which would require a landlord to give tenants 4 months of notice to end tenancy on behalf of a new purchaser.  There was a lot of industry pushback and, after some reconsideration, the rules have changed again.  Effective August 21, 2024, landlords will need to offer 3 months of notice to end tenancy when the home is being sold and the dispute period is shorted to 21 days from 30 days.  

Having said this, should a landlord wish to take over the property themselves, 4 months of notice will still be required. Additionally, tenants who receive such notice will be entitled to 3 months of free rent.