Graywood has spent 40 years crafting exceptional real estate. With over 31,000 units built, 10 active projects and more on the way this year, we are continuing to balance investment value with inspired living. Now, in partnership with Japan’s Hankyu Hanshin Holdings, renowned for over a century of shaping vibrant communities across the globe, they bring their expertise to Canada with Claystone Condos.

When you choose to invest with Graywood and Hankyu Hanshin, you are investing in a legacy. This partnership is a testament to the combined strength, ensuring your home is built on quality and stability.

All new condos come with a Tarion Warranty, which covers your new home for one year with material defects, two years with plumbing and electrical defects, and seven years with structural defects. Tarion is an independent not-for-profit corporation and a regulatory body that oversees and licenses all new home builders in Ontario.

Interim occupancy is when you will receive your keys and gain possession of your new home. Ontario law allows residents to move in and enjoy their homes while the developer applies for registration of the condominium corporation. Our team will reach out with next steps to book your move in once your interim occupancy date has been finalized.

This means that the title of the condominium is transferred from the developer to the condominium corporation. At this stage, the title of the individual suites will start to be created, and this is the beginning of the final closing process.

Final closing takes place once the individual suite title has been created, the purchase of your new home can be concluded or “closed”. This will complete the interim occupancy period. At closing time, the balance of the purchase price is due. Your mortgage lender can release the funds to pay the balance.

PDI is also known as a pre-delivery inspection. This is the process where a purchaser has the opportunity to see their unit prior to occupancy. Visits prior to the completion of the PDI appointment cannot be granted. If you are unable to attend the PDI, you can assign a designate to complete this process. You can complete this request through your solicitor.

Upon registration of the condominium, the Board of Directors is elected by the homeowners at the project turnover meeting, and annually thereafter for various terms. The Board of Directors are responsible for looking after the affairs of the Condominium Corporation and enforcing the by-laws, rules and regulations as outlined in the disclosure document (the governing documents along with the condominium act).

Your licensed Property Management Team will collect your condo fees and manage all operational aspects of the condominium. Some of their responsibilities include, but are not limited to:

• Providing keys to residents
• Move-in and move-out coordination
• Operations, cleaning and maintenance of the entire property
• Common element deficiencies such as elevators, corridors, stairwells, roof, exterior brick/windows/precast, parking garage, etc.
• Construction and/or renovations of common areas
• Budgeting and financial reporting
• Resident relations
• Expenditure, revenue and reserve fund control

The Property Manager will report directly to the Board of Directors and host annual general meetings for the community.

Maintenance fees are used to ensure the common elements of the building are maintained. The maintenance fee per suite varies; please speak to our sales team for more details. These funds are managed by the Condominium Corporation and Board, which includes:

• All amenities and common areas such as lobbies, hallways, recreational facilities, walkways, gardens, etc.
• The doors and windows of each individual suite.
• Any items that are considered the Condominium Corporation’s property such as furniture, equipment, etc.
• Personal liability – against claims for bodily injury and/or property damage occurring on the condominium property or caused by some act or omission of the Condominium Corporation.
• All boilers and equipment within the building such as elevators, HVAC systems, etc.
• Directors’ and officers’ insurance – to respond to claims made personally against a director or officer in the condominium.
• All perils as per the condominium governing documents.

As a homeowner, you are not only owning your individual suite. You also share ownership in the condominium community through your maintenance fees.

Each homeowner is responsible for the following:

• All personal property within their respective suite including but not limited to appliances, furniture, valuables, etc. This also includes any belongings that are stored in lockers.
• Personal liability
• Any renovations and improvements made to the suite.
• If you are renting your suite to a tenant, we strongly recommend obtaining landlord insurance and requiring your tenant to have insurance as well.
• Deductibles for loss caused by owner negligence vary. It is always a good idea to have your broker review the building annual policy to ensure that you are adequately protected in case of an accident in your suite (for example, a dishwasher overflow).