Tenanted Property

No. Under the Residential Tenancy Act, SBC 2002, c. 78, a tenancy agreement continues after the sale of the rental unit and binds the new landlord unless the tenancy is properly ended in accordance with the Act. The purchaser steps into the landlord's rights and obligations on the completion date. Verify current details with a BC lawyer, notary, or licensed tax professional before acting.

Not immediately. Under the Residential Tenancy Act, SBC 2002, c. 78, you may end the tenancy only if you meet a statutory ground (for example, landlord's use of property for self or close family) and provide the required notice period. You cannot terminate a tenancy simply because you purchased the property. Verify current notice periods and conditions with a BC lawyer, notary, or licensed tax professional before acting.

The Residential Tenancy Act, SBC 2002, c. 78, requires the seller (former landlord) to transfer the security deposit (and any accrued interest) to the buyer (new landlord) on or before the completion date, or to return it to the tenant if the tenancy ends. The new landlord then holds the deposit under the same statutory obligations. Verify current details with a BC lawyer, notary, or licensed tax professional before acting.

The Contract of Purchase and Sale and any conditions of sale determine what disclosure the seller must provide; common practice is to disclose tenancy agreements and rental income, but this is not automatically guaranteed by statute. Review the contract terms and any subject-to clauses carefully. Verify current contract terms and your rights with a BC lawyer, notary, or licensed REALTOR® before removing subjects.

No. Under the Residential Tenancy Act, SBC 2002, c. 78, rent increases are regulated: the landlord must give three full months' notice using the approved form, the increase is limited to the maximum allowable annual percentage set by regulation, and only one increase is permitted in any 12-month period (as of 2026-07-27 — verify current). Verify the current allowable increase percentage and notice requirements with a BC lawyer, notary, or licensed tax professional before acting.

Eligibility depends on occupancy: under the Property Transfer Tax Act, RSBC 1996, c. 378, and the Home Purchase Assistance Act, the full exemption (for fair market value up to $835,000 as of 2026-07-27 — verify current) generally requires that the purchaser occupy the property as principal residence within a specified period. A tenanted property may not meet that requirement at completion. Verify current exemption conditions and timelines with a BC lawyer, notary, or licensed tax professional before acting.

Under the Residential Tenancy Act, SBC 2002, c. 78, prepaid rent obligations transfer to the new landlord; typically, the Contract of Purchase and Sale will include an adjustment statement crediting the buyer for any portion of prepaid rent attributable to the period after completion. The seller should account for this on closing. Verify current adjustment and conveyancing practices with a BC lawyer or notary before acting.

The seller remains the landlord until completion and may issue a notice to end tenancy (for example, for purchaser's use of property) if permitted under the Residential Tenancy Act, SBC 2002, c. 78, and the contract allows it. However, the purchaser must intend in good faith to occupy the property (or meet another statutory ground) or the notice may be invalid. Verify current notice grounds, timing, and good-faith requirements with a BC lawyer, notary, or licensed tax professional before acting.

It depends on your status and the qualifying tenancy. Under the Speculation and Vacancy Tax Act, SBC 2018, c. 46, certain arm's-length tenancies of six months or longer in a calendar year may exempt the property, and Canadian citizens or permanent residents ordinarily resident in BC may also be exempt. Verify current exemption categories, arm's-length definitions, and filing deadlines with a BC lawyer, notary, or licensed tax professional before acting.

Provincial law does not impose a landlord registration requirement, but some BC municipalities require a business licence or rental housing licence to operate a rental property (for example, the City of Vancouver). Check the local government bylaws in the municipality where the property is located. Verify current municipal licensing requirements with a BC lawyer, notary, or the relevant municipal office before acting.