What is the best way to go about legally turning a property that is zoned as a single family home into a triplex?
The property currently has a 3 bed 2 bath unit (main house) and then two lofts in the backyard. All units are on their own meters, but the owners of the property are living in the main house. If I go in on this deal I plan to live in the house for a bit and then eventually move out and rent out all three units. (The two lofts are already rented out on a month to month basis while the property is on the market.)
1) Can I rent out the properties when I'm not there WITHOUT changing the zoning. (It's zoned for single family residential in Milton, Florida).
2) If I do have to rezone it, what is that process like and how does that effect the resale value of the property if at all?
Any other input would be greatly appreciated as well. Thanks!
@Connor Deneen for both your questions it can vary from county to county. I would call down to the planning and development department for your county and ask them. They are usually a huge help from my experience
Mr. Carroll, thank you, I will call them today!
@Connor Deneen I stumbled upon this post as I have a similar situation I'm looking to invest in. If you moved forward with that opportunity above do you mind sharing what your experience has been?
@Khambrel Roach Ended up not going ahead with the property, talked to the county about the zoning, not only was it zoned as SF but it was technically operating illegally the way it currently was being used as a triplex. The county had some interesting laws as to how many u related adults can live in the same sf. That being said the process of trying to convert it zoning wise made the juice not worth the squeeze. I would have needed to get approval for the Re zoning from all the neighbors within a certain radius and it was unlikely being as This was a very nice neighborhood. I ran the numbers to see if it’s would work s an sf rental in case I couldn’t get it rezoned but it didn’t so i moved on.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing