2008 San Francisco Condo Conversion Lottery - When? Where? How much?
- Tickets go on sale for the 2008 Condominium Conversion Lottery on Monday, November 26, 2007 at 8:15AM and can be purchased through Friday, January 25, 2008 (4:45 PM is the cut off time).
- Tickets can be purchased at 875 Stevenson Street, Room 460. The office is open from 8:15 AM to 4:45 PM M-F.
- Tickets cost $150 per building.
- The 2008 Condo Lottery Drawing is scheduled for 9:00AM on Wednesday, February 6 in Room 400 at City Hall.
- A winners list is available 7 days after the drawing.
- More details about the 2008 Condo Lotto can be found here.
Bypassing the Condo Lottery
Buildings eligible to bypass the condo conversion lottery are two unit buildings where both units are occupied for at least on year by separate, unmarried persons. Each person must own at least 25% of the property and must have owned at least this percentage the entire time of occupancy. This is the only type of building permitted to bypass the lottery.
Recent Condo Lottery Legislation
In December of 2005, legislation was passed that changed the rules governing the condo conversion lottery. The changes are intended to make the odds of winning the lottery more fair for participants who have entered and lost for multiple years. In past years these participants have complained that new entrants have flooded the market and unfairly reduced the odds of winning for the owners who have entered the lottery and lost for many years.
What Building Types are Eligible for Conversion?
Eligible building types consist of only 2-6 unit buildings that:
- Meet owner occupancy requirements
- Win the condo lottery (or bypass it)
- Satisfy all tenant’s rights requi
Tenants Rights
Existing tenants hold certain rights during a condo conversion. These tenant’s rights include:
- All tenants are to be notified of their rights prior to the owner filing a lottery conversion application.
- All tenants are to be offered an option to purchase their unit post conversion at a price determined by the owner.
- Tenants who don’t purchase their units receive rent control lease arrangements for 1 year. (after this 1 year period, renters may be subject to an owner move in eviction if the unit is sold)
- Seniors and disabled persons receive lifetime rent control.
