Explaining all the nuances around converting a San Francisco building to condominiums takes a lot more than what I can cover in a single blog post. If you want to start looking into it, here are some great online resources that can answer initial questions about the process.
Eviction History and Condo Conversion If you think tenants have been evicted from your buidling in the past, this article becomes your starting point.A building’s eviction history can disqualify it from every becoming condos. It’s written by Andy Sirkin a San Francisco attorney specializing in TICs and condo conversions tells when and how.
Odds of Winning the Condo Lottery Another article by Andry Sirkin. The statistics are grim: whether applying for the first time or the sixth time, the odds of winning are less than 2%. And you don’t even get to apply until you’ve lived in the building for three years.
Be aware that if you have a two unit building with a ‘clean’ eviction history and both units are owner-occupied by separate parties, you can bypass the condo lottery.
G3MH Condo Conversion Brochure G3MH is a law firm specializing in landlord-tenant law, TIC agreements and condo conversions. This PDF FAQ answer most initial questions building owners and prospecive building owners have about condo conversion.
If you’re still confused after you’ve read this stuff, call me at 415-577-0809 and tell me your particular situation. I can help you sort through the options and we can figure out how to leverage your investment into its highest, best worth.