As with any new home, buying a new condominium is one of the most important decisions in any person’s life. You as a condo buyer should demand that your builder is a qualified and financially stable builder. LRWP offers a comprehensive and reliable condominium warranty that will protect the condominium owner from unexpected and costly repairs. You owe it to yourself to choose an LRWP Builder that will build with you and your investment in mind.
Highlights of the LRWP condominium warranty program:
- 1 Year Materials and Labour Warranty
- 5 Years Structural Defects Warranty
- $35,000 Structural Defects Warranty Per Condominium Unit
- $3,500 Additional Living Expenses Coverage
- Common Property Limit of up to $500,000
LRWPs Condominium Warranty is designed specifically to protect new condominium buyers against unexpected major repairs. LRWP strives to continually ensure that all of our builders meet the highest standards of accountability, building financing and quality construction in the building of your new condominium.
Once you move in YOU ARE NOT ALONE. LRWP will be there if you need us. Customer service to our new condominium homebuyers is our pledge to you. You and your family can rest assured that your condominium unit and common property are well protected against the unexpected. The feeling of confidence and security along with our customer service guarantee after you move will give you the peace of mind to know that your investment was worth it.
1 Year Materials and Labour Warranty
Your condominium will be worry free through the first year after completion as your LRWP Builder warrants the building and units against defects in workmanship and materials that may occur in your condominium unit or common area.
5 Years Structural Defects Warranty
Your LRWP Condominium Warranty protects the very heart of your home’s structure for 5 full years. LRWP covers any defect in materials and labour that result in a failure of the load-bearing portion of the home or common property, or the structural damage that might result from such a failure.
$35,000 Structural Defect Coverage Per Condominium Unit
Your LRWP Condominium Warranty provides up to $35,000 per condominium unit to cover structural defects, up to a maximum of $500,000 in any one building, as defined by the warranty standards published by LRWP.
$3,500 Additional Living Expenses Coverage
LRWP will ensure you and your family have a place to live if you have to move out of your home because of a major structural defect. You will be reimbursed for up to $3,500 for reasonable additional expenses you incur for hotel rooms and food costs while you are unable to live in your home.
$500,000 Common Property Limit
The Common Property Limit of your warranty is equal to $35,000 times the number of units in the building to a maximum of $500,000.