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Updated almost 11 years ago,
Buying rent controlled occupied units - Washington, DC
Hey BP,
I recently spoke to the listing agent for a 4 unit building in my area (Washington, DC) that I would want to rehab. She informed me that the building is fully occupied and the tenants are on rent control. They have also made it very difficult for her to show the units. Given their lack of cooperation, I’m assuming they will not willingly relocate and the process of legally relocating the tenants to renovate the units could take up to 120 days.
Has anyone purchased a building that was occupied by rent control tenants? Are there any creative ways to relocate the tenants other than cash for keys or raising rent over time?