Converting A Duplex To Condominiums
I own a large duplex in Columbus Ohio. It has 1750 square feet per side and rents for $1200 per side per month. I think I can sell it for around $300,000.
I have heard that sometimes you can increase the selling price if you convert the building to condominiums and sell the units separately. How is this decision made?
The street the building is one has about 20 duplexes. All of the rest of the streets in the neighborhood are single family homes.
Hey,
Chris is exactly right here.
I had the same situation, where I increased the rent to cover the utilities. The "average" bill was $125, so I bumped the rent by $150 (see how smart I am). The next month the bill was $154.
Send them the bills.
Bruce.