Rent control to Air B&B
Hi there, I am looking at an 8-unit in north jersey, 7 of the units are occupied and the 8th needs renovations. Anyway, the apartments are rent controlled. Does anyone happen to have experience with this? Also, are there ways, if the tenants leave on their own, to convert from rent control to Air B&B or something to get the rents to up to market value, they are currently insanely low. Any insight would be much appreciated