Buying or selling a rental property

Whether you are buying or selling a residential rental property, you have responsibilities to the current tenants. All the terms and conditions of a lease agreement remain the same no matter who owns the property.

It's important to end a lease the right way. First you need to know the terms and conditions of the lease agreement with the current tenants. Next you must provide them with proper written notice.

Landlords do not have to inform their tenants if they intend to sell, however, it is common courtesy to share this information.

Once the sale is finalized:  A notice of transfer is mandatory when selling a property that has tenants. The notice must be completed by the seller and served to both the tenant and the Tenant and Landlord Relations Office within seven days of the transfer of ownership.

Notice of Transfer Form (PDF 114 KB)

Send printed or digital copies of completed forms to the Tenant and Landlord Relations Office by email to [email protected], by fax at 1-855-658-3096, by mail to PO Box 5001, Moncton, NB, E1C 8R3, or bring it to a Service New Brunswick service centre.

All the terms and conditions of a lease or tenancy agreement remain the same no matter who owns the property. This means the lease or tenancy agreements with the current tenants stay the same after a property is sold.

Once the notice of transfer is received, the Tenant and Landlord Relations Office will transfer all security deposits on file to the new owner. A Certificate of Deposit for each tenant will be provided to the landlord by mail.

If you have collected security deposits, you must submit them to the Tenant and Landlord Relations Office. The security deposits can be submitted at any Service New Brunswick service centre or by mail to:

Tenant and Landlord Relations Office 
PO Box 5001 
Moncton, NB 
E1C 8R3