Conversion to condominium?
We help you through the entire process.
In a conversion, the tenants buy the property from the property owner and the tenancies are converted into condominiums. In order for a conversion to be carried out, it is required that at least 2/3 of the residents want to buy their apartment. The property owner must of course also want to sell the property, but it does not matter if it is a private or municipal property owner.
What are the benefits of a conversion?
A conversion of your rental property into a condominium is a unique opportunity for you to enter the housing market and into a potentially really nice
housing business.
The advantages of a transformation are many.
What can we as retraining consultants help with?
We help you and your neighbors with the entire remodeling process and all the steps involved. A conversion to a condominium is a complex process and we have the specialist skills required for overall responsibility. The process of a reorganization can last from a few months to several years, and we have the financial resources, the expertise and, above all, the patience and commitment required to make your reorganization a goal. We have so far had the privilege of handling over 250 conversion assignments precisely because we are careful in our work both in the preparations before the work, during the conversion process itself and after a conversion when you as a housing association have taken possession of the property. When you hire us, you get a personal retraining consultant who is with you through the entire process. We have broad expertise in real estate as well as in law and economics.
The restructuring consultant's responsibilities include, among other things, the following:
1. Contacts and negotiations with the property owner
2. Assist with technical inspection and valuation of the property
3. Create calculations
4. Hold information meetings with the tenants and supervise on an ongoing basis
information
5. Maintain ongoing contacts with the residents and be available to
dialogue with them
6. Establishing a financial plan
7. Establishment of Bylaws
8. Assist with certification of the financial plan (performed by the Housing Authority)
9. Shop for financing
10. Carry out purchase meeting
11. Procurement of financial and technical management as well as
property insurance
12. Review and approve all contract documents
13. Together with banks ensure that the necessary financing
is ensured for both association and members
14. Review and approve all access documents and
carry out the access
15. Basic board training after taking office
The cost of hiring us as a retraining consultant
We always charge only when the transformation is completed. The price is a fixed price for the entire transformation assignment, which includes all the above elements. There are no additional costs for the association beyond the fixed fee, which i.a. is affected by how many apartments the conversion includes, if there are premises, where in the process the condominium association is, which transaction structure is deemed to be relevant and the conversion consultant’s overheads. Our fixed fee is included in the financial plan for the housing association (the cost is always paid by the housing association and not by individual tenants). In addition, we only charge if the condominium conversion can be completed. Your personal conversion consultant works together with the board throughout the entire process and works to ensure that conversion can take place and where the condominium association is strong and stable, which provides excellent conditions for the future.
Do you have questions?
Are you a tenant and need help with a conversion or a property owner who wants to transfer the property? Fill in the form and we will contact you shortly.