Condo Conversions
Does anyone know of any good books dealing with condo conversions? Our lawyer is well versed in the area but I was wondering if there were any books out there as well.
Thanks in advance
Does anyone know of any good books dealing with condo conversions? Our lawyer is well versed in the area but I was wondering if there were any books out there as well.
Thanks in advance
Don't know of any books, only personal expience.
Do you have any specific questions in mind? Other than the financing, condo conversion regulations differ from state to state, county to county and from city to city.
You have to know who the local jurisdiction is for a property. In California, there are state regulations which the city or county must follow (mainly paper work issues), but the state gives the city or county the authority to regulate the design,( i.e. physical properties, such as parking, size of units, upgrades, etc.), the number of conversions that can be done and other issues such as tenant relocation assistance. In Los Angeles, this can amount to $3K to $8K per tenant.
Bottom line, know who has jurisdiction and know their rules.
Rey Berona
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