Central Park House Key Milestones Timeline & Action Items

HOMEOWNER ORIENTATION (OCT 2024 - JUN 2025) 

Homeowner Orientations can take place anywhere from 6 months prior to completion, to a minimum of 2 weeks prior to completion. The Bosa Properties Customer Care team will reach out directly when your home is ready for orientation. This will be the only opportunity to view your home prior to completion so we strongly recommend you come prepared to capture any photos/videos/measurements you may need for potential renters (investors) or furniture (residents). 

Actions to take:

• Receive notice of your orientation & book orientation date
• Perform orientation & capture required content
• Receive post orientation report, capturing any noted deficiencies

HOMEOWNER INFORMATION SESSION (MAR 2025) 

• An outline of necessary information to prepare you for completion 
• Introductions to the right people, like the Customer Care team, lawyers and Strata Management.
• Opportunity for Q&A to help answer any questions you may have

ASSIGNMENT DEADLINE (APR 30, 2025)

Bosa Properties will be accepting assignments until April 30th, 2025. A reminder that adding or removing a person from the Purchase and Sale Agreement is considered an assignment, even if the person is a related a party. Article 5 of your Purchase and Sale Agreement outlines the details of the Assignment and the cost of such Assignment.

• Review names on your Purchase & Sale Agreement
• Contact centralparkhouse@bosaproperties.com to request an assignment

PARKING UPGRADE DEADLINE (MID-MAY 2025)

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, you may submit a request to purchase. Upgrade stalls are available on a first come, first served basis and subject to availability. 

• Review Purchase and Sale Agreement for parking upgrade details
• Contact centralparkhouse@bosaproperties.com to inquire or request to purchase

PREPARE FOR OFFICIAL NOTICE OF COMPLETION (MAR - JUN 2025) 

Ahead of receiving your Official Notice of Completion, there are a few things you can do to best prepare for what is upcoming, such as:

• Secure your rate commitment/financing (if you have not yet done so) and ensure the names) on the rate commitment matches what is listed on the Purchase and Sale Agreement
• Select your lawyer/notary and notify Bosa Properties conveyancing (submit the "Legal Information Request Form")
• If any of your contact information has changed (address, email, etc.), please let the Bosa Properties team know promptly so they can ensure all important information is received by you

BUILDING OCCUPANCY (APPROX. MAY 2025) 

Building occupancy, or "receiving OP" (occupancy permit) is the date at which the building has been inspected and signed off by all respective parties and construction will begin to wrap up with final touches before completion. There are no actionable items for homeowners at this stage, but this is an exciting milestone that puts you even closer to completion of your new home.

OFFICIAL NOTICE OF COMPLETION (MAY - JUL 2025) 

Once we have received our Occupancy Permit and Individual Titles, we will issue your Official Notice of Completion. Notices are sent via email at a minimum of 10 business days' notice prior to your completion date. Your Official Notice of Completion will outline details for: your completion date, how to schedule your move-in date / time via your Property Management (AWM via their portal) and contact information for your Homeowner Experience Specialist. At this point in time, we highly recommend you complete the following steps right away:

• Book your possession / key pick up date (with the Bosa Properties Homeowner Experience Specialist)
• For resident homeowners; Book your elevator access for your target move-in date with Strata Management (via AWM, you will need to register for the Strata portal to access booking)

PREPARE FOR COMPLETION (MAY - JUL 2025) 

As you near completion, you will receive various communications from the Bosa Properties team, roughly 90/60/30 days prior to your completion date. You will be provided with helpful tips and reminders about milestones and next steps to prepare. During this time, we recommend that you:

• Update your lender with your completion date and finalize any requirements for your financing and/or submitting your final payment.
• Contact your lawyer/notary to inform them of your completion date and begin any necessary paperwork
• Purchase homeowners’ insurance, effective as of your completion date (this is important for both investors and residents)
• For resident homeowners; Book a moving company for your possession date or preferred post-possession move-in date
• For investor homeowners; List your home for rent with available move-in date (most renters seek new accommodation between 20-45 days in advance). If you are already working with a potential tenant, secure their move-in date and book elevator access via Strata Management on their behalf (you will need to register for the AWM Strata portal).

COMPLETION DATE (JUN - JUL 2025)

Completions are set to start in June/July 2025, with an estimated timeline of 4-6 weeks. The process will begin with the lower floors and continue upward through the building.

This is the date at which:

• You will complete on your home
• Title is transferred from the developer to the homeowner
• Your final payment is due

POSSESSION DATE (JUN - JUL 2025) 

This is the day immediately following the completion date, where you receive keys and take possession of your new home (and you will be responsible for utility charges from this date). Your possession date (also known as your key entitlement date is one day following your completion date. This is the soonest date your tenants may move in and we highly recommend spacing out your possession date and tenant occupancy date to ensure ample time for you to pick up your keys and take care of any requirements in the interim.

• Pick up keys from Homeowner Experience Specialist
• Register for your Bosa Properties homeowner portal (for resources and warranty ticket submissions) 
• Ensure all utilities have been transferred to your name (this is the date you'll be responsible for utilities

FIRST MORTGAGE PAYMENT (JUL - AUG 2025, */ - 30 DAYS POST-POSSESSION) 

After you've taken possession of your new home, your first mortgage payment will be drawn within 30 days after completion, depending on what you have aligned with your lender. This may also include your first Strata fee payment. We recommend confirming your Strata fee payment schedule with your Strata Management Company (AWM Alliance Property Management).

FIRST YEAR IN YOUR HOME

Your Bosa Properties New Home Warranty covers any defect in materials and labour within your home for the first year. If you wish to report any warranty defects, you may do this through your Homeowner Portal. If there is an issue with your home, you will need to contact our Customer Care team for assistance. We recommend monitoring the finishes in your home during this time and submitting your requests.

• Register for Your Homeowner Portal
• Monitor Finishings
• Submit Request(s) to Customer Care

POST POSSESSION:

1 - 2 YEARS

Within 2 years of owning your home, any defects or issues pertaining to the mechanical systems within the building will be covered by National Home Warranty.

POST POSSESSION:

2 - 5 YEARS

Within 5 years of owning your home, any defects or issues pertaining to the building envelope will be covered by National Home Warranty

POST POSSESSION:

5 - 10 YEARS 

Within 10 years of owning your home, any defects or issues pertaining to the structural aspects of the building will be covered by National Home Warranty.