Occupational interest (often referred to as occupational rent) is a payable fee covering the period from the issuing of the Occupation Certificate, to when the apartment is transferred into your name – at which point, if you have a bond, your bond repayments will start. Once the building is complete but before the property is officially transferred to you (in the registrar’s office), you will need to pay occupational interest. This fee can be offset by any rental income you earn (via short-term or long-term letting), as you are allowed to make use of your apartment during this period. Below is a calculation of the occupational interest based on a purchase price of R2 500 000: (R2 500 000 x 11.75%) / 12 = R24 480 per month.Please note: This period can take roughly one to three months.