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Updated 9 months ago,
Seeking Advice on Multi-Unit Conversion for Property in Union City, NJ
Hi everyone,
I'm considering purchasing a single family home property in Union City, NJ, and would appreciate your insights on a plan I'm thinking about. The property has three floors, and I'm looking to potentially convert it into multiple rental units. Here are the details:
- Lower Floor: Already functioning as a separate unit with its own meter, entrance, and bathroom, currently rented to long term tenant who would like to stay, post-sale.
- Main Floor: Has its own entrance with immediate access to an upstairs. This floor includes a kitchen, dining room, and living room but needs an additional bathroom to become a standalone rental unit. (I am currently staying at another similar home in the neighborhood where the owner has done something similar)
- Upper Floor: Consists of two rooms and a bathroom. I'm considering splitting this floor into two separate Airbnb units, which would involve adding another bathroom. (I am currently staying at another similar home in the neighborhood where the owner has done something similar)
My main questions for the forum are:
- Zoning and Legal Considerations: Does anyone have experience with the zoning laws in Union City, NJ, especially regarding converting single-family homes into multi-unit rentals?
- Building Codes and Permits: Insights on navigating local building codes and securing permits for this type of conversion would be incredibly helpful.
- Potential Pitfalls: Are there any common issues or unforeseen challenges I should be aware of when undertaking a project like this?
- Advice on Short-term Rentals: Given the plan to use part of the property for short-term Airbnb rentals (30 day minimum), any advice or experiences related to this?
I'm eager to make informed decisions and ensure all legal and regulatory requirements are met before proceeding. Any guidance, experiences, or resources you could share would be greatly appreciated!
Thank you in advance for your help!