C of O Change
I purchased a 4 story limestone 3 years ago. It is a SRO (1 apt and 6 rooms) I am currently occupying 2 floors and renting 2 floors as individual apartments. In a nut shell I am using it as a 3 family. I was wondering if it is legal to use a SRO as…
I purchased a 4 story limestone 3 years ago. It is a SRO (1 apt and 6 rooms) I am currently occupying 2 floors and renting 2 floors as individual apartments. In a nut shell I am using it as a 3 family. I was wondering if it is legal to use a SRO as a 3 family and is it worth while to change the C of O from a SRO to a 3 family?
The first thing that DOB will ask for i a certificate of no-harrassment obtainable at 100 Gold Street, Manghaqttanm
I would suggest that you get a lawyer to understand the pitfalls of getting a new Certificate of Occupancy. Technically you are currently renting the apartments illegally. If your tenenats get wind that the apartments they are renting are actually SROs and fall under certain rent regulated guidelines they can sue you for overcharging them. While I do agree that changing the current CofO from SRO to a legal 3 family is worth it in the long run – it may cause you a couple of headaches in the short term. Just know what you’re getting yourself into before setting the process in motion. I had a similar issue a couple of years ago so I am very familar with the process.
You’ll also want to speak with an attorney about obtaining a certificate of non-harassment. Even if it isn’t really being used as an SRO, you need to prove that you didn’t get tenants out unlawfully.
Jim Hill, RA LEED AP
Urban Pioneering Architecture
As you probably recall from your purchase, it can be more difficult to obtain financing to buy an SRO than a 3-family, so by converting it, you would expand the number of potential buyers in case you ever want to sell it.
SRO’s have many limitations and requirements. You need to get an architect and lawyer on board.