How much is occupational rent?

The amount of occupational rent is determined in the Offer to Purchase and is typically between 0.55% and 0.7% of the purchase price per month.

Occupational rent is actually not paid to the current owner, but rather to the conveyancing attorney responsible for conducting the transfer of property.

The conveyancing attorney will then distribute the rent to the owner, or directly to the owner’s bank to help pay off their bond.