Quote:
Originally Posted by haligonia
Yes, but rental or not, the point is still valid.
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Yes the point is valid. Just pointing out that condo owners would take a much larger financial hit when paying the deed transfer tax to the city upon occupancy while renters would not. I was just thinking that taking a greater financial hit and having to take ownership of an unfinished unit would probably be much more distasteful for an owner who paid full price up front, but received a unit that is not finished. In this case renters have more recourse because they can go to the tenancy board for rent relief if they are paying their rent per the rent agreements they signed up to a year ago but are not receiving all benefits listed in the rental agreement.
In either case working on deficiencies in the units being rented now will not be a priority once they are occupied. The priority will be working on the remaining empty floors to get them ready for occupancy. Then deficiencies on the first five floors will be dealt with.