Importance of having permission to lease clause during interim occupancy

The occupancy period starts when your municipality declares the building as “fit for occupancy”. During the occupancy period, builders charge occupancy costs or interim occupancy fees, which are monthly payments to your developer. If you’ve “permission to lease or rent clause” during occupancy that means you can now rent the unit to cover this fee and possibly generate positive cash flow. Hence...

Things to check before signing a preconstruction agreement

This is one of the most important one for investors, the assignment clause allows you to sell your property before it's even constructed. Before signing an agreement, double check if there is any cost associated with the use of assignment clause in future. Capped Development Charges: Development charges are paid to the city by developers and builders further charge it to the buyer and amount is...

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