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]

GTA’s municipalities short-term rental rules and regulations. Short term rentals have been a hot topic for few years, highly debated on all levels of governments given our housing crisis, with the recent introduction of the federal government crackdown on illegal short term rentals starting January 1, 2024, we thought it would be a good idea to put together a list of rules and regulations by municipalities in the GTA region. The enforcement of the rules has always been very... [read more]

When discussing the condominiums, we often hear terms special assessments and loans, in this blog we will explain what they mean and why they are often a sign of the existing issues. Both loans and special assessments are a form of financing where funds aren’t readily available. Loans – this is pretty self-explanatory, the corporation would apply and receive a loan which would be repaid over an extended period of time and collected via, likely increased, monthly common fees.... [read more]

This topic is often brought up on various online forums and opinions vary, from don’t bother it’s not worth the paper it’s written on to it’s a must and everything in between. Most home buyers are not lucky enough to be purchasing a property without financing and will need a mortgage. Let’s start with the basics. What is mortgage pre-approval. A mortgage pre-approval means the financial institution has qualified you for a certain amount of mortgage based... [read more]

What is POTL. The term is associated with certain types of properties, in this short blog we will explain what it means as well as how it affects some properties. POTL is short for A Parcel of Tied Land. The most common forms of ownership of properties are freehold (detached or semi-detached homes, freehold townhomes) and Standard Condominium Corporation (your typical condo apartment, condo townhomes). POTL in the context of GTA residential real estate ownership refers to a... [read more]