If you are thinking, “Maybe I’ll rent my home for a year and sell when the market is better,” I would put two real plans side by side before you decide. Renting can be a good choice, but it is a landlord decision—not simply a way to postpone a sale.
Here in Greater Sudbury, I would start with what the home could reasonably sell for now, what it could rent for, and what you need the proceeds to do next. The future market is unknown. A year of rent might help you, or the costs and timing might make selling now the cleaner move. Neither answer is automatic.
Compare the money you would actually keep
Gross rent is not profit. Put the mortgage payment, property tax, insurance appropriate for a rental, utilities you would cover, repairs, maintenance, vacancy allowance and any management costs on one side of the page. On the other, put the likely net proceeds of a sale and the cost of holding the home while it is listed. If you are also buying, map out the cash and timing needed for that purchase with your lender and the buyer process in view.
I would also ask an accountant to model the after-tax result. The Canada Revenue Agency’s rental-income guide explains that turning a principal residence into a rental can trigger change-of-use rules. An election may be available in some circumstances, and claiming capital cost allowance can affect that choice. These details depend on your own history and tax filings; I would not assume a one-year rental is tax-neutral.
Decide whether you want the landlord role
Even with an excellent tenant, the work does not disappear. You are responsible for the property, maintenance and the tenancy. A lease is not a casual one-year pause button. Before you advertise the home for rent, decide who will handle repairs, emergencies, insurance, records and the possibility that your eventual selling date will not line up neatly with the tenancy.
Think about the home’s condition fairly, too. Tenant-occupied does not mean poorly maintained. What matters when you sell is the actual condition, the practical access for photography and showings, and whether you can make any improvements you want before listing. My media-day guide explains the preparation we would plan for a sale.
Know the showing and vacant-possession rules
In Ontario, a landlord—or a broker or salesperson with the landlord’s written authorization—can show a rented unit to a potential purchaser after giving the tenant at least 24 hours’ written notice. The notice must say why, give the day and set an entry time between 8 a.m. and 8 p.m. That is the rule in section 27 of the Residential Tenancies Act. I would build a respectful showing plan around it, rather than promise buyers unrestricted access.
Selling the property by itself does not end the tenancy. A purchaser’s genuine own-use plan may support an N12 process in the circumstances allowed by law, but the notice, compensation and Landlord and Tenant Board process matter. An N12 is not an instant guarantee of vacant possession. The Landlord and Tenant Board’s own-use guideline is the right starting point; get legal advice on the specific lease and any sale agreement before promising a possession date.
My practical decision test
I would compare these two written scenarios:
- Sell now: a realistic price range from current comparable homes, preparation costs, carrying costs until closing, and what the proceeds let you do next.
- Rent and sell later: realistic rent and vacancy, operating and tax costs, landlord work, the tenancy’s effect on timing, and a range of possible future sale prices—not one optimistic forecast.
If renting still works when you use conservative numbers and a less convenient selling timeline, it may be worth pursuing. If the plan only works when the market rises, the tenant leaves exactly when you want, and no major repair appears, I would pause. You can read how I approach the seller consultation and listing launch if you want to compare a sale plan with your rental plan.
This is general Ontario real estate information as of November 2025, not tax or legal advice. An accountant and an Ontario lawyer or licensed paralegal should review your facts before you change the home’s use, serve a tenancy notice or commit to vacant possession.
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