Homeowner Information Session FAQs

I haven’t been contacted about my orientation—when can I expect to book my appointment?

We are currently working through orientations, starting from the lower floors and moving up the tower. When your home is ready for orientation, one of our team members will reach out to you. If your home has a unit number ending in 01 or 07, it may be located near a construction hoist. As a result, these homes will be prepared later in the orientation program as we complete the final finishing touches.

Will there be additional parking spaces to purchase or rent? Are parking stalls EV ready?

At present, there are no additional parking stalls available for purchase; however, if you have a small vehicle stall, you may request an upgrade to a full-sized vehicle stall. There are no rental stalls available from Bosa Properties or AWM, but some owners may choose to rent their stall out privately following completion. 

All parking stalls in the building have a rough-in for EV charging. It is the responsibility of the owner to have their own charging station installed.

How do I request to upgrade my small car parking stall to a full-sized parking stall?

If your Purchase and Sale Agreement contemplates the ability for you to purchase an upgrade to your parking stall from the assignment of a small car parking stall to a full size parking stall, and you would like to proceed or inquire on this upgrade, kindly reach out to us at centralparkhouse@bosaproperties.com for more information.

I’m currently renting, when do I give notice to my landlord? 

We recommend you provide notice to your landlord after receiving your Official Notice of Completion letter with the specified completion date, and your possession date is booked / confirmed. You will also need to follow specifications for providing notice that are outlined by the Residential Tenancy Branch of BC.

I’m an investor intending to rent my home—when should I list my home? 

Your Homeowner Portal will have resources to assist you in your search for a renter. Our recommendation is to wait until after you have received your Official Notice of Completion to list your home for rent. We also recommend targeting a tenant move-in day that is after your possession date, to allow for any adjustments or circumstances that may be out of your control. You will need to contact your Strata Property Manager (AWM Alliance Property Management) to provide any information they may need regarding your tenant, how to book the elevator, etc. 

Please reference your investor package, which will be available on the portal soon, and always follow the laws and recommendations outlined by the Residential Tenancy Branch of BC.

How do I find out if I have parking and/or a storage locker and where they are located? 

Should you have an assigned parking stall / storage locker, your solicitor will receive a document called “Assignment of Parking Stall and Storage Locker”, prior to your Completion date. On the day you pick up your keys, our Homeowner Experience Specialist will show you the location(s) of each.

Are all homes completed on the same day or are move in dates staggered? How will this affect elevator bookings? 

Completions will be staggered starting from the lower floors and moving up the tower. As there will be multiple homes completing on the same day we highly recommend that once you’ve received your completion date, you reach out to AWM to book your elevator in advance.

When will I have to submit the final payment for my home? What other costs can I expect to pay at completion?

Your final payment will be due at a minimum of 10 days prior to completion. Your Official Notice of Completion will outline the total final payment along with your payment due date. We recommend contacting your preferred lender as soon as you receive Notice of Occupancy to be best prepared.

Where can I find details on my monthly strata fee?

Your strata fees are outlined in your Disclosure Statement, as may be updated in an Amendment to Disclosure Statement. Strata Fees are paid directly to your Property Management Company, AWM Alliance Real Estate Group.

What happens if I find more deficiencies when I move in? Can I bring in an inspector 

Following completion, any deficiencies will need to be reported to Bosa Properties customer care via your homeowner portal. If you wish you bring in an inspector after you have taken possession of your home, you are welcome to coordinate that at your leisure. 

When will the strata council be elected? 

The Strata Council is elected at the first Annual General Meeting, which will be held within six weeks from when half the building strata lots have conveyed to purchasers. Two weeks’ notice will be provided for the date of the first AGM, once known.

How do you navigate and resolve issues when damage to your unit is caused by a neighboring unit? What is the protocol and who is involved in resolving the issue? 

First and foremost, all owners and tenants should have home insurance to protect their homes and contents. In the event damage is occurring in your home, report to property management who will coordinate with site staff to investigate and determine the causes and guide for next steps. The strata corporation is not necessarily responsible to damage inside your strata lot, even if they are caused by a neighbor, so it is imperative residents carry insurance.

If I want to do some construction work in my unit, what approval and steps do I need to do first? 

All renovations must be approved by the Strata Council (Strata Corporation). Applications for Renovations are to be submitted online through the property management portal, where they will be reviewed by the Strata Council at the next scheduled meeting.

Can there be more than one person listed on the contract, such as a family member? Is there a fee to do this? 

Yes, you may have more than one person listed on the Purchase and Sale Agreement.  If you are adding or removing a person from the Purchase and Sale Agreement, this is considered an Assignment, even if it is a related party as defined in the Purchase and Sale Agreement.  Article 5 of your Purchase and Sale Agreement outlines the details of the Assignment and the cost of such Assignment.

Will Bosa Properties be reaching out to homeowners to ask for lawyers or notary contact info once we get the completion notice? 

Yes. Approximately sixty (60) days prior to your estimated completion date, we will send out an email with a variety of detail pertaining to your completion, but more specifically, we will ask for you to complete a “Legal Information Request Form”.

Is there a rental management company under Bosa Properties that can assist investors in finding tenants for their home?

While we do not have a dedicated team to assist investors with renting out their home, we do have resources that will assist you in your journey as a housing provider. You will find a list of resources on your homeowner portal as you near completion. You may also contact the BPI Club Coordinator (contact details to be provided at a later date) to find out more about the information we can provide. 

What are the exemptions, if any, for Property Transfer Tax?

The main applicable exemption for presales is the newly built home exemption. To qualify, the owner must be a Canadian citizen or Permanent Resident and occupy the property as a principal residence. To obtain a full exemption, the fair market value must be $1,100,000 or below. A partial exemption is available if the fair market value is between $1,100,000 and $1,150,000.

There are also two occupancy requirements to maintain the exemption. The owner must move into the property within 92 days of completion and continue to occupy the property as a principal residence through to the one-year anniversary of the closing date.

The first-time home buyer's exemption may also be available, but the newly built home exemption is usually better as the exempted amount of tax is greater.

Buyers should consult with their lawyer or notary to confirm if they meet the requirements of the exemption.