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May 2013 You Asked. We Answered.At the Inquiry Answer Service, we answer, on average, more than 300 questions for our subscribers each month. We consult a variety of sources to create a custom research packet — which may include APA publications, sample ordinances and plans, articles and literature from partner organizations, and the most current information available online — for each question. Each month, we choose one question to feature here, so you can see what your peers around the country are asking and how we answered. When your organization subscribes to PAS, you and your colleagues will also have access to previous editions. You Asked.What are best practices for regulating condominium conversions? We are interested in creating a condominium conversion ordinance that would not only establish city procedure but also secure rights for the renters being asked to move. What are best practices for regulating this? Are there any studies on the impacts over time of condominium conversions? We Answered.Many communities have a section in their ordinance regulating the conversion of multifamily residential buildings to condominiums. Enumeration of tenants' rights and listing of development application procedures are standard elements of such ordinances. Typical tenants' rights include notice of condo conversion (120 days' notice is fairly standard, and the elderly and disabled are often given additional time); right of first refusal on purchasing units; and limitations on rent increases after conversion notification. Some cities require owners to assist with tenant relocation through unit-finding or financial assistance. Condominium conversions typically require conditional or special use permits. A subdivision application is often required, as well as a sometimes lengthy list of other application materials, including reports on the physical condition of the building, proof of notification of tenants, and site plans. Some ordinances include a list of criteria that must be met in addition to the standard conditional use criteria in order for the conversion to be approved. Condo conversions became a trend in the early 1980s in many metropolitan areas. Studies have found that in strong real estate markets, condo conversions can help meet demand for property ownership by young, often single buyers and may facilitate housing infrastructure rehabilitation. However, other impacts can include displacement of lower-income renters, reduction in rental property, and in some cases, increased vacancy rates during economic downturns. Resource List
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