How To By Pass The San Francisco TIC (Tenancy In Common) Condo Lottery with a 2 Unit Building

Two unit buildings with a clean eviction history bypass the conversion lottery if both units are occupied for one year by separate (unmarried) individuals who each own at least a 25% interest in the property during the entire occupancy period. This exemption from the lottery is also applicable to mixed use buildings having no more than two residential units, both of which are owner occupied. Occupancy is proven by sworn statement. No other building types can bypass the lottery. Vacant apartments do not count as owner-occupied. A two-unit building cannot bypass the lottery if an elderly (over 60 who has resided in the building for 10 years), disabled or catastrophically ill person was evicted from the building after November 16, 2004. A building from which two or more tenants (regardless of age or disability) were evicted from separate units for any reason unrelated to the tenants’ behavior after May 1, 2005 can be converted only after 10 years of owner-occupancy unless each unit was occupied by a separate owner on April 4, 2006.

Below are some 2 Unit Buildings currently on the market in San Francisco.  If you might be interested in learning more about this type of property investment please contact Kevin at 415-621-6604.