Ottawa tenant — landlord wants to sell, cash-for-keys offer
Hi everyone,
Looking for thoughts/options on a rental situation in Ontario.
My partner and I are currently renting a house and have lived here for about 17 months. Our landlord recently told us they are considering selling the property due to financial difficulties, and it seems like they want us to move so the house can be vacant.
They have now offered us a cash-for-keys agreement of $3,000 in exchange for us agreeing to move out on a mutually agreed date.
We are still trying to understand the practical costs and risks before responding. Finding a comparable rental is not simple for us because we have pets and need a suitable house that works for our space, location, and overall needs. Moving would also involve movers, possible rent overlap, utility setup, packing, time off work, and the uncertainty of finding a pet-friendly place.
Another factor is that, as we understand it, the landlord may also have the option of moving into this house themselves and selling their current house instead, so we are trying to understand what our rights and options are before agreeing to anything.
We are not trying to be difficult, but we also don’t want to rush into signing something that ends our tenancy after only 17 months without fully understanding what is fair and what we may be giving up.
Questions:
- Is $3,000 considered low for a cash-for-keys situation like this?
- How should we calculate a reasonable counteroffer?
- What should we be careful about before signing anything, especially an N11?
- Does the fact that we’ve only been here about 17 months affect how people would think about fairness/reasonableness?
- Are there any practical steps we should take before responding?
Appreciate any advice or experiences from people who have been through something similar.