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Advisory
- Date
- 7 August 2024
- Advisory Number
- 24-032
- Distribution
- Real Estate Developers, Real Estate Professionals
Purpose
This Advisory informs real estate licensees, real estate developers, and mortgage services registrants of further amendments to the Residential Tenancy Regulation related to the personal use-notice period for home purchasers.
Background
Effective August 21, 2024, amendments to the Residential Tenancy Regulation will reduce the notice period to three months (previously four months) and the dispute period to 21 days (previously 30 days) when a landlord issues a notice to end tenancy on behalf of a purchaser.
A four-month notice period remains in effect for landlords who intend to personally move into the rental property, or have a close family member move in. Tenants of these properties also still have 30 days to dispute a Notice to End Tenancy.