Commercial Property FAQ's

My accountant has given me financial recommendations regarding a property transaction. Can he also advise me on the legal ramifications of this lease and transaction? 

A.  No.  Whether he/ she is a CPA or a chartered accountant, accountants are not trained to provide you with any legal aspect to that advice.  Your accountant is only entitled to give you accounting advice.

The building I'm considering buying has tenants. Can I evict them and find my own tenants?

In most instances no. Most property leases allow the tenants to stay for the duration of the lease so long as they pay their rent, regardless of who owns the building at any stage in the term of the lease.