Convert appartment complex to condos

[AlexMain]

What is the name of your state? California, San Jose

The good freind of mine has 8 unit building that he is trying to convert to condo units and sell them out separately as condos.
All the condos usually belong to Home Owner Association.

Is he suppose to find an existing HOA and assign his units to the HOA or he can create his own?

There should be rules different from state to state or county to county. I was just wondering if there is a standart procedure for converting into a condo units.
Or who would be a good refference for an advice; county office? ...RE Lower?

Thanks in advanceWhat is the name of your state?

[LindaP777]

Originally Posted by AlexMain

Is he suppose to find an existing HOA and assign his units to the HOA or he can create his own?
There should be rules different from state to state or county to county. I was just wondering if there is a standart procedure for converting into a condo units.
Or who would be a good refference for an advice; county office? ...RE Lower?

He will need to create a new HOA. Hire a RE attorney to do that. You will also need to check with city/county and see if it's permissible and to see what (if anything) you have to do to the building itself.

[AlexMain]

Thanks Linda,
again,
If he creates one, does he stick with it (manage) forever or it can be sold.
Can he join other condo complex to the same HOA?
Just wonder if there is good reference for HOA organization?

[Paddy Reagan]

Condominium statutes do vary from state to state and local legal advice will be required for document preparation and filings, etc.

Basically, though, the conversion of an existing multi-family apartment building to condominiums involves several phases. The owner must obtain approvals of state and local government agencies, prepare plans for the conversion and have them approved by the appropriate building departments, and, a package of condo documents must be prepared and filed.

Unlike new construction, a significant part of any conversion is the plan to notify current tenants and follow the rules in your state for displacing them. Some states require procedures to protect the rights of tenants with active leases.

A condominium association will be formed and incorporated with the owners/developers as directors. As units sell, new owners become members of the association until, at some point prescribed by law and based on the percentage of units sold, the board of directors will be made up of owners and the developer no longer involved. From that point forward, the owners, working through the board, make all decisions regarding maintenance, budgets, and management.

[LindaP777]

Originally Posted by AlexMain

Thanks Linda,
again,
If he creates one, does he stick with it (manage) forever or it can be sold.
Can he join other condo complex to the same HOA?
Just wonder if there is good reference for HOA organization?

HOA = Home Owner Association. Only members are the people who own the condos. So if there are 12 condos, there would be 12 owners. He would only be an owner if he continues to own a condo.

[AlexMain]

Thank you all for your responces.
I guess the best way to handle is just to consult with CityHall and RE Atterney before making any moves for required approvals.