Passed over during the last legislative session, the condo conversion bills are making their way through both houses of the state legislature. I’ve posted updated info on the bill as well as my thoughts about the bill on my other blog.
I have been in favor of some sort of change to the current requirements – 90 days notice and $500 towards low-income tenants – which is hardly anything. The cost to move and secure a new place to live is considerably more than $500. And, if you’re not low-income, you get nothing. But, I’m a little skeptical about placing limits on conversions. I’m a firm believer that the market will self-correct and adjust accordingly. And, it has.