CONDO CONVERSION BMR PROGRAM: RENTAL INFORMATION
Thank you for your interest in the Condo Conversion Below Market Rate (BMR) Program rental information.
MOHCD will follow the rental procedures published in Ordinance #320-08, Subdivision Code 1344(f) (see page 14 of the Ordinance) to determine if an owner may rent the BMR unit to an income qualified tenant at an affordable rent. ONLY Pre-Legislation Owners (owners who purchased or acquired their BMR unit on or before January 18, 2009) who have not opted into the updated program may rent their BMR unit to qualified households. All BMR units purchased on or after January 18, 2009 or owners who have opted into the updated program MUST owner-occupy the BMR unit. Depending on how the BMR unit was originally designated, households earning less than 80% or 120% of the Area Median Income (“AMI”) may qualify to rent the unit. ALL owners are required to notify the Mayor’s Office of Housing and Community Development (MOHCD) upon rentals and re-rentals. Please refer to 2007 Inclusionary Housing Procedures Manual (see page 29) and the 2008 Condo Conversion BMR Program Addendum for the rental policy applicable to BMR units purchased on or after January 18, 2009 or owners who have opted into the updated program.
- The household must be income qualified (including an asset test)
- The household is a non-homeowner household
- The household must live in the unit as their primary residence and not subleased
- The household size must be compatible with the size of the unit (minimum of 1 per bedroom)
- All non-dependents must appear on the lease for the unit
Maximum Allowable Monthly Rent Levels:
The Mayor’s Office of Housing and Community Development rent levels are adjusted annually based on federal income standards to determine maximum allowable rent levels based on the designation of the unit. Please refer to the tables below in order to determine maximum allowable rent levels based on unit type and unadjusted area median income limits.
Links to Documents Related to the Rental of Condo Conversion BMR Units:
*NOTE: Please contact MOHCD directly to determine the rental policy specifically related to your unit, not all units will qualify.
Condo Conversion BMR Program
Mayor’s Office of Housing and Community Development
1 South Van Ness Avenue, 5th Floor
San Francisco, CA 94103