Congratulations, you’ve sold your rental property! What’s next?
Don’t worry, we’ve put together this handy checklist to make sure that nothing gets missed.
- Deliver any notices required by the Landlord & Tenant Board to your tenant *if you’d prefer that we handle this let us know
- We deliver the signed Agreement to your lawyer or notary as soon as possible. If you don’t have a lawyer or notary, ask us for a referral. Carefully review all fees and disbursements, adjustments and other closing costs with your lawyers or notary
- Cancel any utilities that are your responsibility to pay. Make a list of phone numbers in advance of each of your utility companies. Remember not every utility is always paid monthly, some are quarterly!
- Gather your important property documents. Things will go a lot smoother if you provide your lawyer with these documents (deed, mortgage, etc). Also, a useful document to have handy is your current or previous year property tax bill
- Give any sets of keys, fobs and garage remotes that you have to your lawyer along with any codes (if applicable). If the purchaser is moving into the unit, make sure to remind your tenants to leave any keys, fobs and garage remotes they have in the property prior to moving out
- Pre-authorized payments to the bank. Make sure your bank or financial institute has been alerted to cancel any pre-authorized payments.
- Do a final walk through with your tenants to ensure that the property is being left in good condition
Your tenant’s responsibilities
- Cancel any utilities that they’re paying
- Book the moving elevator
- Leave the property in a ‘broom swept condition!’
- Leave their keys, fobs and remotes in the unit on closing
On your closing day you should expect to get a call from your lawyer’s office that your property has closed and the funds have been delivered into your bank account between 1-5pm. Each lawyer’s office differs so please confirm the process and timing with your lawyer.
Our Client Concierge Services
Don’t forget that our Client Care Concierge will be able to help with some of this list! For a refresher on these services click here. To reach our Client Care Concierge directly email email@example.com or call 289-795-4429.
Christine & team