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curious2
2012 Sep 30, 7:46pm
the "baggage" that comes with unit
You mean, the people who live there and are paying rent every month?
Anyway SF TICs are wildly overpriced and have significant financing issues that may get worse:
http://blog.sfgate.com/ontheblock/2010/02/25/tics-have-lost-that-loving-feeling/
Frankly it sounds like SF's overpriced housing market has caused you to become frustrated and maybe a little desperate, which in turn is skewing your perceptions and judgment. You are talking about overpaying for a risky fractional interest in a house and evicting the "baggage" whose home it is currently (with apparently no thought whatsoever as to where they will live, because they are not your problem, their lives are merely "baggage" that you can kick to the curb). It sounds like a bad decision for bad reasons. SF needs to allow a lot more housing to be constructed, partly because this business of fighting over fractions brings out the worst in people and causes a lot of suffering.
sf_peasant
2012 Oct 1, 5:27pm
A 2010 link? Something more recent? And dont be sorry for the renter. He makes a 6 figure salary, travels extensively internationally for leisure and pays less than 1/2 of what folks in the City pay for rent.
Yes, SF needs more housing. But that is not what this topic is about.
Hello,
I'm looking to buy a Tenancy in Common(TIC) in San Francisco, and part of the purchase, is that 4 unit building would be Ellis Acted.
Im going to try and contact a lawyer this week, but wondering if anybody has insights about that process. How much does it cost, what are its complications/ implications?
I like the property, and am willing to accept the "baggage" that comes with unit due to the Ellis Act- (namley no condo conversion for 10 years and if re-rented, must be at current rateof $1100.)