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Updated over 10 years ago on .

User Stats

29
Posts
7
Votes
Tyler Veres
  • Rental Property Investor
  • Toronto, ON
7
Votes |
29
Posts

Mixed Use Building Tenant Question

Tyler Veres
  • Rental Property Investor
  • Toronto, ON
Posted

Does anyone have experience with mixed use buildings?  I am looking at a purchase that is mixed use (basically large older victorian type home with office space on main two floors and apartments on lower level)  There is a loft on the top floor that would make a really cool 1 bedroom apartment if renovated.  My eventual plan would possibly involve converting the office space into residential units as well.  Would you advise converting, or do you like having a mix in unit type?  As far as evicting commercial tenants, my thinking is that they would likely have much longer leases.  Can these be rendered void once I take possession as the new owner and want to change the use?  Please advise and much appreciated.