Homeowner
Resources.

Before the construction of your new community begins, we will invite you to attend two separate Design & Décor appointments where you will have the opportunity to customize your suite and make it truly yours! The first appointment will be the Structural and Electrical Appointment. During this appointment, you may add items such as additional lighting or additional outlets or request a tub to shower conversion. The second appointment will be your Colours and Finishes Selections. During this appointment you may choose between a pre-selected package of finishes or upgraded options.

The start of construction is defined as the construction of foundation components or elements (such as footings, rafts or piles) for the building. We will provide you with notification (referred to by Tarion as the “Official Notice of Construction Start”) when this milestone has been achieved.

Another important milestone in the development of your home is the completion of the roof. You will be notified by no later than 30 days after the roof completion of either your Final Tentative Occupancy Date or your Firm Occupancy Date. 

One month (or a minimum of one week) prior to your Occupancy Date, you will be contacted to schedule your Pre-Delivery Orientation. During your orientation, your RioCan Living Customer Care Representative will accompany you on an inspection of your home and note any concerns you may have. Your Representative will demonstrate the regular operation of all your home systems and explain what to do in case of an emergency. Required maintenance and warranty coverage will also be explained.

Leading Up to Your Orientation: 

Review Tarion’s Homeowner Resources – To help you prepare for your orientation, please review Tarion’s Resources. This will provide you with resources and insight on what to expect during your orientation.

Who Should Attend: 

During your orientation, we will cover a lot of important information and want to ensure you do not miss any details. For this reason, we ask that only one homeowner attend the Pre-Delivery Orientation appointment. If accommodations are required to allow an additional person, please speak to one of our teammates when you are contacted to schedule your appointment. We require that attendees be over the age of 16 years old. If you are unable to attend your orientation appointment, you may appoint a Designate, such as a family member or friend, if they are over 18 years of age. We ask that you please complete and submit an Appointment of Designate Form to make this change. Please inform your Designate that you have given them this important responsibility to attend the appointment on your behalf.

What To Wear: 
Depending on the timing of your orientation, your building may still be under construction in certain areas, or the City may still need to grant us legal occupancy. If necessary, for your safety, we will provide you with a hard hat and steel-toe shoes with single-use personal protection liners at the time of your appointment.

Your Occupancy date is the date you will receive the keys to your suite and be able to occupy your new home.

This is the anticipated move-in date stated on your APS. This is the earliest date you may expect to take possession of your unit. Many factors throughout the construction process may lead to potential delays in your occupancy date. While our construction teams make every effort to minimize these delays, there are external factors that may impact your date. We are committed to reviewing our construction schedule at various stages throughout development and ensuring you are kept informed of any changes in this date. Per Tarion, your Tentative Occupancy Date may be extended as long as your Outside Occupancy Date is not exceeded.

This date is established once the roof is completed for your community. A Final Tentative Occupancy Date may be extended only once, by a maximum of 120 days. At 90 days prior to your Final Tentative Occupancy Date, your occupancy date will become your Firm Occupancy Date. This date will only move in the case of an unforeseen emergency (e.g., trade strike or material delay). For information on when your homebuilder can extend your occupancy date, you can refer to the Tarion Statement of Critical Dates in your APS.

At the time of your Occupancy, if your building has not yet become a Registered Condominium Corporation, you will not yet receive official title to your home and will be required to pay a monthly occupancy fee until Final Closing. This fee is calculated based on the projected realty taxes, maintenance fees and interest on the unpaid balance of your home. On your Occupancy Date, you will receive the keys to your new home and either you or an immediate family member may occupy the suite.

If you are interested in renting or selling (“assigning”) your home prior to receiving title, please refer to your APS to ensure that you are permitted to do so. Please feel free to reach out to your Customer Service Representative if you are unsure or have questions.

If your building has become a Registered Condominium Corporation prior to your date of possession, you will proceed with a Final Closing and receive title of your new home.

Keys will be released to you once our team has received confirmation from our lawyer that all closing documents and funds have been received. At that time, you, or an authorized representative, will be able to pick up your Key Package from our Customer Care team. You will be asked to present one piece of government issued Identification (such as a driver’s license or passport), which must the match our records for your keys to be released. Other move-in forms, including utility set-up, will be sent to you ahead of your occupancy date.

Condominium registration is the final step in the process of creating a condominium corporation. The corporation is the legal entity that manages and operates the building via the Board of Directors. For registration to occur, the developer must have satisfied the approval conditions set by the City and have pre-approval from the Land Registry Office on the declaration and condominium plan. This process is regulated by the Condominium Act, for the protection of both developers and homeowners.

In the context of a preconstruction condominium, the Final Closing refers to the completion of the purchase transaction. It is the point where title (and legal ownership) is transferred from the developer to the homeowner. If you have completed an Occupancy Closing, your Final Closing is typically sometime within 3-6 weeks after Registration. You may go directly to a Final Closing if you have purchased either near or post Registration. Final Closing is also when you will begin paying your mortgage payments to your mortgage lender.

The final step in obtaining control of your building is the Turnover Meeting. This is the process where the developer transfers control of the condominium corporation to the unit owners. At this meeting, the first Board of Directors will be formed and all relevant documents relating to the operation and management of the condominium will be handed over.

A condominium is a type of home ownership. It is made up of the unit that you reside in and the common elements. Common elements in a building are jointly owned by all the owners. These include areas such as the hallways, elevators, and amenity spaces. Maintenance fees are paid by the unit owners to maintain the common elements.

The maintenance fees include all services necessary to run the condominium corporation. A percentage of your maintenance fees are set aside to cover potential major repairs and replacement costs of the common elements. This is referred to as your building’s Reserve Fund. Please refer to your Condominium Documents for a more detailed explanation of your maintenance fee breakdown.

The Pre-Delivery Orientation is a walk-through of your suite, completed with a RioCan Living Customer Care Representative. This is your opportunity to ensure the suite was completed with the design choices you selected, as well as the time to note any deficiencies.

You are only allowed household domestic pets, as described in your Condominium Documents. Pets must always be on leash in the common areas. All damages caused by a pet are the full responsibility of the unit owner, who will reimburse the Corporation for any repair or replacement costs incurred.

An occupancy period in a pre-construction condo is often referred to as interim occupancy. The occupancy period occurs so we may complete the construction of the building and finalize the legalities required to register the condo and transfer ownership to you. At occupancy, you may move into your unit, however, you do not officially own it yet. Instead of mortgage payments, you will pay an occupancy fee which typically consists of interest on the balance owing, estimate property taxes and maintenance fees.

The occupancy period is determined by the City and Land Registry Office. For Registration to occur, the developer must have satisfied the approval conditions set by the City and have pre-approval from the Land Registry Office on the declaration and condominium plan. This process is regulated by the Condominium Act, for the protection of both developers and homeowners. You may expect your Final Closing to take place within 3-6 weeks after Registration.

Closing a pre-construction condo involves many legal and financial complexities. A lawyer’s job is to help you review your Agreement of Purchase and Sale, conduct a title search and review your closing adjustments with you. Additionally, the Teraview Electronic Review System is generally the system used to transfer title. Access to this that is only available to lawyers.

As a condominium unit owner, you are responsible for all maintenance and repairs within your unit (within the by-laws and rules as set out in your Condominium Documents). You are also responsible for electing the Board of Directors to manage your building. You are not responsible for maintaining common elements.