Julie is acting as a sub-broker for the sale of a 4-unit residential building (plex) in Québec City. The seller informs Julie that two of the four units are currently rented. Which of the following is MOST important for Julie to verify and disclose to a prospective buyer regarding the existing leases?

Question: Julie is acting as a sub-broker for the sale of a 4-unit residential building (plex) in Québec City. The seller informs Julie that two of the four units are currently rented. Which of the following is MOST important for Julie to verify and disclose to a prospective buyer regarding the existing leases?

Answer options: ✅ The terms and conditions of the current leases, including rent amounts and renewal dates.

• The tenant's credit scores and previous rental history.
• The colour scheme and decor preferences of the current tenants.
• The number of pets each tenant owns.

Correct answer: The terms and conditions of the current leases, including rent amounts and renewal dates.

Explanation: As per the OACIQ's rules, a broker must ensure that all material facts about a property are disclosed. For an income property, the terms, conditions, rent amounts, and renewal dates of existing leases are crucial information affecting the property's value and a buyer's revenue projections, and must be provided to the buyer in writing.