My fiance and I rented a 1-bedroom condo at 810-101 Peter Street in downtown Toronto from October 2016 to January 2019. Our rent was approx. $1,800/month. The landlord lived in China and had a representative in Canada who was the point of contact for the exchanging of cheques, deposits, etc.
In January 2019, we received an email notifying us that we had to prepare to move out because the landlord wanted to move from China to Toronto and live in the unit. We said no problem -- but told them that they had to serve us an official Form N12 if that was the reason.
After that, we heard nothing from them for over a week -- which seemed strange. They were typically quick to respond to emails or calls. We finally received word that the landlord's plans had changed and she was "selling the condo and moving to another city in North America instead".
They did move forward with selling the unit and we eventually signed an N12 in March 2019 with "the purchaser's child" checked off as the person who would be moving in. My gut suspects that she would not have sold the unit if we had been naive and moved out with no signed N12 -- allowing her to hike the rent to market rates without any consequences.
Agreement of Purchase/Sale
Yes, didn't go to LTB