Interim occupancy: living in your condo before you own it
Doorvia Guides · September 5, 2026
Between move-in and registration you pay an occupancy fee that does not reduce your mortgage principal.
In a new condominium there are two closings. At interim occupancy you move in, but the corporation is not yet registered, so title cannot transfer. You pay a monthly occupancy fee to the developer until final closing.
The occupancy fee typically has three components: interest on the unpaid balance of the purchase price at a prescribed rate, an amount for estimated municipal property taxes, and a projected common expense contribution. None of it pays down principal - it is closer to rent.
Occupancy can last months, sometimes more than a year, depending on how quickly registration follows. Ask the developer for the estimated occupancy and registration dates, and budget the fee separately from your future mortgage payment.
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