Building owners can spend years vying for one of 200 condo-conversion slots awarded annually via a lottery. But this year San Francisco is considering letting people skip the line, offering a one-time chance to the hundreds of folks on the lottery list to go condo now – for an extra fee. The goal is to generate more revenue for the cash-strapped city and to create building-industry jobs, because condo conversions generally require some construction work to bring buildings up to code. (read the complete article SFGate.com)
For more information on TIC laws or looking to purchase a TIC for investment contact James Aduna 415.901.2797 or jaduna@ubayp.com
