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Updated almost 8 years ago,
Selling 2-family in Somerville, MA as condos
Just wondering if anyone has had any experience converting a 2-family in Somerville into condos? I'm meeting with an accountant and and a lawyer over the next couple weeks to make sure I understand all the moving parts, but thought I might as well get as much background info as I could first.
My main questions is how to handle the 1 year notice to tenants-- I've read through the guidelines for condo conversions from the city website, and it seems like you're supposed to give tenants 12 months notice of your intention to convert their apartments into condos. I'm on good terms with both tenants and they're both leaving of their own volition at the end of their leases, so not sure why they would have any say on what I do with the property? Would the notice requirement still apply if the apartments have been vacant for a couple months while I renovate before applying for the Removal Permit?
Theoretically, couldn't tenants move out at the end of their leases, and then their landlord decide to convert the house into condos? Would that landlord still need to track down his or her former tenants and give them notice even though they've already moved?
Any input would be much appreciated, thank you!