[Burnaby] The Amazing Brentwood | 15 Towers | 186m | 56 flrs | U/C & Proposed

[cairnstone]

Have the other towers received OP yet? Also the level of finish will not be as high on the rental tower. You only have 1 owner walk through compared to each unit having a unique owner rep

[jamieson]

Originally Posted by cairnstone

Have the other towers received OP yet? Also the level of finish will not be as high on the rental tower. You only have 1 owner walk through compared to each unit having a unique owner rep

Why would the other towers have an occupancy permit if it is not even finished building yet?

[Just_a_lamp]

Originally Posted by osirisboy

Why is that "super lame"? How dare those awful renters get to move in first.

I've lurked this thread (I just joined today) since the beginning and saw this so I thought I'd chime in. I'm an owner and have been since day one and have waited a long time to be able to move into my unit (the walk through was a bloody tease especially since they gave me no information on move in\availability). I don't care if I'm selfish but you better believe I think I should be in before renters. Don't mean to be harsh but I'm throwing down a decent bit of coin to live there.

[osirisboy]

if you have a problem waiting a long time to move in don't buy a pre sale. You can "throw your decent coin" on a resale unit somewhere. The renters are throwing their decent coin into something as well. Why isn't their money as important?! Gimmie a friggin break. Also aren't the rental on the lower floors? Those are typically finished earlier to begin with

[Just_a_lamp]

Originally Posted by osirisboy

if you have a problem waiting a long time to move in don't buy a pre sale. You can "throw your decent coin" on a resale unit somewhere. The renters are throwing their decent coin into something as well. Why isn't their money as important?! Gimmie a friggin break. Also aren't the rental on the lower floors? Those are typically finished earlier to begin with

This isn't my first rodeo with presale of units but the first I've been part of with rental units not done through owners. They way SHAPE has handled this job for the past 5 years hasn't been great. Do you not think people who have put money down on a unit shouldn't have precedent over someone who's been on a email list for the past 2-3 months? Lets say you've put money down (lets say 25% of the total) on a new car and are now waiting in line to get it. Wouldn't you be a bit miffed if someone walked right by you without any money down and drove off the lot with it? Now that might change, who knows, it may be a quick move in window but who knows, I'm almost confident it'll be late October\early November which is a huge bummer considering they told me June at one point. This has been my most frustrating new build purchase - I'm not trying to be an ass but man the place is in within reach of moving in yet feels so damn far away.

[osirisboy]

Originally Posted by Just_a_lamp

This isn't my first rodeo with presale of units but the first I've been part of with rental units not done through owners. They way SHAPE has handled this job for the past 5 years hasn't been great. Do you not think people who have put money down on a unit shouldn't have precedent over someone who's been on a email list for the past 2-3 months? Lets say you've put money down (lets say 25% of the total) on a new car and are now waiting in line to get it. Wouldn't you be a bit miffed if someone walked right by you without any money down and drove off the lot with it? Now that might change, who knows, it may be a quick move in window but who knows, I'm almost confident it'll be late October\early November which is a huge bummer considering they told me June at one point. This has been my most frustrating new build purchase - I'm not trying to be an ass but man the place is in within reach of moving in yet feels so damn far away.

No. And it's weird that you have this emotional response to having renters move in first. Calm down.

[jamieson]

Originally Posted by Just_a_lamp

I've lurked this thread (I just joined today) since the beginning and saw this so I thought I'd chime in. I'm an owner and have been since day one and have waited a long time to be able to move into my unit (the walk through was a bloody tease especially since they gave me no information on move in\availability). I don't care if I'm selfish but you better believe I think I should be in before renters. Don't mean to be harsh but I'm throwing down a decent bit of coin to live there.

Yeah, I understand the frustration. But rental units are on lower floors so it is to be expected that they can move in first. October/ November is not far away. We have all waited this long (I'm even waiting longer for my tower complete). It's gonna go by fast.

How was the walk-through? Are things as marketed and identical to the show rooms? 9ft ceilings, USB outlets, etc? I noticed that the rental floors have grey counter tops, handles on the kitchen cabinets, and have a different back splash for the black marble option. Hoping this is not the same with owner units.

[VarBreStr18]

I do not buy the excuse that because lower floors are completely finished first, therefore renters can move in first. By this far along, you would think T1 should be completely finished right up to the penthouse because all they are waiting for is the OP. City would not issue OP unless the whole building is is occupiable/livable.
Even though rental occupy the lower floors, this should not be the criteria that renters should move in before owners. The elevator once booked can bring you to any floor, not just to the rental floors, given that the whole building is livable.
Owners should have priority over renters simply because OWNERS HAVE BEEN WAITING IN LINE SINCE DAY ONE, much like queuing up to buy anything.

[Just_a_lamp]

Originally Posted by jamieson

Yeah, I understand the frustration. But rental units are on lower floors so it is to be expected that they can move in first. October/ November is not far away. We have all waited this long (I'm even waiting longer for my tower complete). It's gonna go by fast.

How was the walk-through? Are things as marketed and identical to the show rooms? 9ft ceilings, USB outlets, etc? I noticed that the rental floors have grey counter tops, handles on the kitchen cabinets, and have a different back splash for the black marble option. Hoping this is not the same with owner units.

Yah everything was spot on. I went with the white counter tops, white tile and grayish laminate. I think there were 3 different schemes. I'm in a plan D and was pretty happy with the size, if I was to nag about anything it's the pillar in the l/r. I didn't think it was going to be as big and had to rethink some new furniture. I went through a rental unit and it had tan floors and cabinets. The oven is also comically small, don't expect to cook a big bird this holiday.

[EddieVH]

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[EddieVH]

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[Just_a_lamp]

Originally Posted by EddieVH

Be happy that you’ve got your walkthrough, ours isn’t scheduled yet and was told sometime the end of this month. Our reward for paying more and buying on a higher floor.

Wow what floor? I thought they were motoring through the floors for viewings.

[Just_a_lamp]

Originally Posted by EddieVH

Just curious, are you on a higher floor?

Around half way up.

[EddieVH]

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[Just_a_lamp]

Originally Posted by EddieVH

We are a couple floors from the penthouse. High 50’s.

Did you get to see the parking and storage areas?

No to both. Apparently the parking is completely full so if you have 2 vehicles you'll need to find one to rent or park somewhere else.

[EddieVH]

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[Cypherus]

Originally Posted by VarBreStr18

Because it does not make financial sense. Renters typically short term, needs tons of processing including credit history check, in return for relatively small monthly rental payment. Whereas owners pay Shape the entire amount. Owners have been waiting for many years already.

That's quite the broad paintbrush you have about renters. I have never heard anyone say it does not make financial sense to rent a property you own, once it is ready for occupancy. It may not make sense for you, as an actual home owner. Sure, but haven't owners just paid a partial deposit until they close? Let's not pretend owners paid the full balance when they made the offer to purchase agreement with Shape....and let's not pretend those original offers were not already assigned to a new purchaser in order to cash in and not pay any income tax during the shadow flipping craze of last 4 years...

[VarBreStr18]

Originally Posted by Cypherus

That's quite the broad paintbrush you have about renters. I have never heard anyone say it does not make financial sense to rent a property you own, once it is ready for occupancy. It may not make sense for you, as an actual home owner. Sure, but haven't owners just paid a partial deposit until they close? Let's not pretend owners paid the full balance when they made the offer to purchase agreement with Shape....and let's not pretend those original offers were not already assigned to a new purchaser in order to cash in and not pay any income tax during the shadow flipping craze of last 4 years...

Owners may pay only 20% down when they purchase a presale, but at the time of closing developer want the balance, hence up to you to find the 80% from whatever ways and means ( either bank mortage, line of credit, borrow from relatives). Shape will get the 80% before they hand you the key. It matters not to the developer whether property is flipped, in which case Shape collects a flipping fee anyway.

Owners put their units for rent,hoping the rent will cover expenses. Very often owners take a loss.

In this case Shape is the owner of 300 rental units. Have to see how hot is their rental campaign. Renting out property sometimes is more headache than it is worth, especially if property already appreciated substantially.

[cairnstone]

Originally Posted by VarBreStr18

Owners may pay only 20% down when they purchase a presale, but at the time of closing developer want the balance, hence up to you to find the 80% from whatever ways and means ( either bank mortage, line of credit, borrow from relatives). Shape will get the 80% before they hand you the key. It matters not to the developer whether property is flipped, in which case Shape collects a flipping fee anyway.

Owners put their units for rent,hoping the rent will cover expenses. Very often owners take a loss.

In this case Shape is the owner of 300 rental units. Have to see how hot is their rental campaign. Renting out property sometimes is more headache than it is worth, especially if property already appreciated substantially.

Shape is the developer and they are in it to make money. Shape may have sold off the rental to one entity so that group will most likely demand to have the rental portion done first. This is very common in purpose built rentals as the developers building them don't plan on operating them as rental units so sell off the complete project prior to completion. But the buyer usually have penalty in the contract so they get priority.

Presale units are treated differently as they are usually finished to a higher standard. Individual walk throughs take way more time than a owners rep that has walked through the units on a regular basis. And in this market if your only 6 month late that is almost perfect.


And as a Presale basically you are buying on speculation that the project may go ahead. In Richmond on project the owners got their downpayment back.

[Just_a_lamp]

Originally Posted by EddieVH

Thanks. Our unit came with 2 spots. What we really wanted was an extra storage locker.

Hopefully you'll get a viewing soon, I know how the anticipation feels as I drive by the bloody building every day.