A

Abz

New Member
Member Bio
Joined
Feb 23, 2021
Messages
38
Reaction score
9
Has anyone heard an estimate of when this will be done. Wondering if occupancy will happen by next summer . How much advance notice must they give buyers before occupancy?
 
Does anyone know if it is possible to sell one of the pre construction units? I think we are prohibited from doing so as part of the sale agreement. I am thinking of selling a unit
 
Abz said:
Has anyone heard an estimate of when this will be done. Wondering if occupancy will happen by next summer . How much advance notice must they give buyers before occupancy?
Click to expand...
As of last weekend 2nd floor occupancy is done and PDI is at 5th floor. Occupancy will keep at speed of 1 week per level for now.
 
Builder giving very hard time to rent the unit out .Seems like they don't want anyone to lease it at all. Most of the buyers investors .Very confusing
.Occupancy fees are very high as well due to high interest rate
 
koshka57 said:
Builder giving very hard time to rent the unit out .Seems like they don't want anyone to lease it at all. Most of the buyers investors .Very confusing
.Occupancy fees are very high as well due to high interest rate
Click to expand...
Really? It was in the agreement that we have the right to lease though
 
Abz said:
Do you know how far in advance they let you know about your occupancy date?
Click to expand...
Less than a month. I emailed and asked about the 90 days rule and customer care replied:

Typically, Tarion requires a builder to provide a 90-day notice period. However, in situations covered by the unavoidable delay provisions, such as the ongoing challenges posed by the COVID-19 pandemic, the standard 90-day notice requirement does not apply.
As outlined in the Tarion addendum (Page 4 of 12, Section 5 C), in cases of "unavoidable delay," we are committed to providing you with a brief description of the delay, its conclusion, and a new statement of critical dates. This information has been provided to you no later than 20 days after the delay has concluded.
 
Abz said:
Really? It was in the agreement that we have the right to lease though
Click to expand...
You can but you have to pay first 2500+HST fee plus 850+HST legal fee, the need to provide tons of files including a clearance certificate from sheriff , tenant residency history and reference letter, 2mil insurance with builder name co insured, employment letter and pay stub, credit report plus 14 days condition for their lawyer to review tenants and need to add a few terms into the lease also.
 
selena5001 said:
Less than a month. I emailed and asked about the 90 days rule and customer care replied:

Typically, Tarion requires a builder to provide a 90-day notice period. However, in situations covered by the unavoidable delay provisions, such as the ongoing challenges posed by the COVID-19 pandemic, the standard 90-day notice requirement does not apply.
As outlined in the Tarion addendum (Page 4 of 12, Section 5 C), in cases of "unavoidable delay," we are committed to providing you with a brief description of the delay, its conclusion, and a new statement of critical dates. This information has been provided to you no later than 20 days after the delay has concluded.
Click to expand...
Wow! And did they inform you via email or by registered mail?
 
Abz said:
Wow! And did they inform you via email or by registered mail?
Click to expand...
selena5001 said:
You can but you have to pay first 2500+HST fee plus 850+HST legal fee, the need to provide tons of files including a clearance certificate from sheriff , tenant residency history and reference letter, 2mil insurance with builder name co insured, employment letter and pay stub, credit report plus 14 days condition for their lawyer to review tenants and need to add a few terms into the lease also.
Click to expand...
That’s crazy!
 
Yep !Very crazy !But also it is impossible to keep the unit without renting it out. Occupancy fee for 1 bedroom is around 3500$. And it might take around 12 month till unit is in your possession.
 
koshka57 said:
Yep !Very crazy !But also it is impossible to keep the unit without renting it out. Occupancy fee for 1 bedroom is around 3500$. And it might take around 12 month till unit is in your possession.
Click to expand...
I drove past there and it didn’t look very finished either , still has a fence around so it guess it will take a long time for final close
 
The unit is really nice though, the material is good and not much issue. Smart controls and no keys for doors. Flood sensors, we love it lots. I think if a renter ever come to see and compare they would love this building.
 
  • Like
Reactions: Abz
You must log in or register to post here.

Back
Top