Commercial properties like warehouses and factories are some of the most popular locations to live among modern-day nomads, thanks to their low cost, large size, and good security features.
However, there are plenty of people who believe that it’s illegal to live on commercial property due to zoning laws or fire regulations, but we’re here to tell you that that’s not the case. In fact, there are several ways to legally live on a commercial property even if you don’t own it or have special permission from the owner or government agency.
Is it possible to live on a commercial property?
Living in a commercial property can be tricky. Some landlords will not rent to residential tenants due to the many problems they have encountered with people living in commercial properties especially if they are doing so illegally.
Other companies may take advantage of this and raise rents, knowing that there are fewer available housing options for businesses or residents. If you want to live in a commercial property, your best bet is to work out an agreement with the landlord or find one that doesn’t mind renting it out.
What are the steps involved in converting a commercial space to a residential one?
1. Schedule a survey with a structural engineer and an architect who specialize in residential work. They will need to inspect the property to determine what changes are necessary before any work can be done and give you an idea of how much everything will cost.
2. Clear out all existing structures on the property, including walls, floors, doors, windows, and fixtures that cannot be salvaged you may want to retain certain historic details.
What is the cost of applying to change the use?
The government mandates a change of use fee for commercial properties if the owner wants to convert them into residential spaces. The cost of this fee varies from municipality to municipality. There are also service charges, which you may be obligated to pay before your application can be processed.
Your municipality should have information on all the costs associated with your desired conversion so be sure to ask them what the total will end up being. This fee is applied because municipalities need the proper funding in order to provide for residents and ensure that their needs are met through infrastructure maintenance, social services, utilities, etc.
The change of use fee is usually between $2-8 per square foot and must often be paid before any evaluation can take place on your desired conversion.
What Is The Likelihood Of Getting The Application Approved?
The application will most likely be approved with the following considerations: a Commercial Property and a Residential property Most commercial properties are located in commercial areas such as strip malls, office buildings, or industrial parks. These locations provide a service to nearby communities and should not be zoned residential.
*In order for your commercial property to qualify as an R-1 zone, you must meet certain criteria.
Can I Use Permitted Development Rights To Move Into A Commercial Property?
It is possible to use permitted development rights to move into living in a commercial property. If you plan on using these rights, you will have to apply for planning permission before starting the construction and may have to pay an additional charge.
There are some limitations to permitted development rights: properties must be smaller than a certain size and can only be used for residential purposes.
What Are The Benefits Of Living In A Commercial Property?
The number of people living in commercial property is on the rise. While most people do it to save money, there are a few downsides to doing so. First, commercial property renters often find that their leases forbid them from using the premises for residential purposes.
The risks associated with these types of situations range from getting fined by your landlord or even having your personal belongings seized and thrown out.
Secondly, life as a renter in commercial property often has you surrounded by other commercial renters and office employees who aren’t your friends or relatives-which means you will be limited to more fleeting interactions with other humans than you would if you lived in a traditional house. If a sense of community is important to you, this might not be the type of living situation for you.