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Occupancy Fee - How is it calculated?

Hi All,

First time home buyer here. Purchased a precon (townhome) a few years back. Was recently contacted by the builder to come pick up the keys to my unit and I will have to pay an occupancy fee of $3700 a month till closing.

They also informed me that the government is quite backed up due the whole pandemic situation and it will take some time until things gets back to full capacity. Does anyone have any tips or pointers to how I can somehow expedite this process? Is there a standard practice of how occupancy fee are calculated? Do I have to take the keys now or can I pick it up when im able to close and avoid the occupancy fee. $3700 does seem like quite a hefty fee as I can rent elsewhere in the area for 1800-2200. The other units in my block has yet to be completed/ sold. Do I have to wait until the entire block gets sold/ completed in order for my unit to close? Getting a little worried. Thanks in advance!

submitted by /u/dillydildos
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source https://www.reddit.com/r/RealEstate/comments/gudc84/occupancy_fee_how_is_it_calculated/
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