Condominium living continues to grow in popularity, especially in urban areas. And developers keep looking for ways to turn existing properties into condominiums. Of course, choosing to convert an existing building into a condominium in Washington, D.C. isn’t that simple. D.C. is unique because of a law known as the Tenant Opportunity to Purchase Act, which imposes strict requirements on owners of existing buildings seeking to convert those buildings to condominiums. For years, we have represented developers throughout the City to ensure compliance with D.C.’s complex laws relating to the registration and governance of condominiums. Look to THE BHATIA LAW FIRM, P.C. for the right legal assistance with the regulations and requirements for converting existing buildings to condominiums.
Ownership & Regulations Are Different for Condos
The laws that govern houses do not always apply to condominiums as these offer a different living environment. In a condo, there are issues of ownership, access, and community property. The inside of the condo is under private ownership, but the outside belongs to those who own the building. Then, too, there is private space, such as the inside of the condo and a balcony or patio. However, the hallways, stairs, elevators, as well as the pool, clubhouse, and gym, are community property, accessible to all who live there.
Overseeing the operation of a condo complex is a homeowners association, governed by a board. This board makes the rules over parking spaces, noise, and schedule of times to make use of shared areas.
All of these differences make it essential to follow the laws closely when it comes to condominium conversions. Whether looking to buy a condo complex or rent properties, our law firm serves you well with drawing up documents for lease agreements and violations. Call our practice to consult with one of our knowledgeable attorneys.