What is the interim occupancy, and occupancy fee. When it comes to buying new pre construction properties, things can get complicated and are quite often full of surprises, items which are often misunderstood are the interim occupancy period and the occupancy fees. What is the interim occupancy period? The interim occupancy period is when the buyer can move in and enjoy the property, the project hasn’t been fully completed, and the title hasn't been transferred. The occupancy... [read more]

Before we get in to the topic let’s refresh the definition of POTL. POTL, short for A Parcel of Tied Land, from the residential perspective refers to freehold properties attached to a parcel of land. The house itself, most often a townhouse, but can be semi or detached, is a freehold, there are no monthly maintenance fees for it like there are for condos or condo townhomes, but there is a monthly maintenance fee for the attached land, typically a private road, common elements such as a... [read more]