TIC Legislation On Hold for Board of Supervisors' Vote

Posted On: Monday, February 25, 2013 - 6:00am | Posted By: Eileen Bermingham

I was interviewed for a story that aired late last week on KQED radio about the TIC legislation that's making the rounds at City Hall. It will allow some homeowners to bypass our infamous condo conversion lottery and pave a smoother way to converting their TICs to condos so they don't have to share title---and in some cases, mortgages---with their fellow neighbors.

The issue is not without controversy, as many renters feel that allowing condo conversion to become an easier process will decrease the number of available apartments in the city. 

The Board of Supervisors Land Use and Economic Development Committee was scheduled to vote today on the legislation, but that's been delayed another month. Aides to Supervisor Mark Farrell, the lead sponsor for the measure, say Farrell wants to talk with tenants' rights groups about the proposal.

Check out KQED's story (with audio link to the original broadcast): "San Francisco Faces Struggles With Decision That Could Help Some Homeowners---and Hurt Renters."

Eileen Bermingham

Eileen specializes in representing buyers and sellers of single-family homes, condominiums, TICs and multi-unit buildings in San Francisco.
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