Qlee
New Member
so i stopped by the third floor today... they have the wall papers up and the elevator foyer is covered with glass panels.. it actually looks not bad...
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You will get something from the builder usually when you get the interim closing/occupancy and may hear from your lawyer about the balances, rent, etc... not sure what that value is -yet-....I want to know how much "phantom rent" do we pay to the builder? If we have some funds accumulated, can we put down more to reduce this "phantom rent"?
This will depend on what your documents say... in some buildings, they don't want you to rent out and can do it only after final closing... but not sure how well this is often enforced.Can the unit be rented after occupancy or only after final closing?
I own a unit in Backstage. But, I want to know how much "phantom rent" do we pay to the builder? If we have some funds accumulated, can we put down more to reduce this "phantom rent"? Can the unit be rented after occupancy or only after final closing?
usually, after occupancy how long does it take for final closing?
Will appreciate your reply.
that happens everywhere. even in buildings that are occupied during interim occupancy - people, contractors, you name it, take things that shouldn't be theirs. That's why there's a security guard, but they can only do so much.
Riley - Try to angle it and put the round prong in first. I haven't had any problems with the kitchen plug.
Spoke with a rep last week, he quoted occupancy is around 45%.
In the L Tower purchasing agreement, it forbids owners from renting out during occupancy period unless they have consent from the builder.
The builder is allowing owners to rent out their units during occupancy period if you sign a waiver, waiving your right to any compensation claims due to delays on their part (Believe this is capped at $5000 per Tarion, based on when the first purchasing agreement was signed)
QLee ... did the rep give you any feedback on the rate the new move in's are proceeding. Just a ballpark ... like is this couple of units a day ... or couple of units a week ... just curious.
No, no specifics. And this is strictly the rate they are giving out the keys. Actual occupancy is unknown.
45% in 4 months, winter I'm guessing will be slower. But optimistically speaking, we may be able to get registered just before the need to rewrite another 12 months of occupancy cheques.... Fingers crossed!
you are absolutely on the ball on this one, just got another extension...May 15th now.
Ahhhhhhhhhhhhh
By the time I get this keys I will be applying for pension the same time....lol
Anyone got extensions?
Migos: Your guess is as good as mine. Maybe because they are still waiting for the window cleaning unit (BMU) and they can't install until the weather gets better (One row of windows is still open on top). Only speculating. Still .. no excuse.
trini2dbone: I think I'll be joining you in the pension line ... lol
Good question: Has anyone else got delay letters ?