Maximizing Rental Income: The Ultimate Guide to Legal Studio Apartment Conversions
In the past, becoming a landlord was a golden ticket: buy an old apartment, hire a few contractors, and subdivide a three-bedroom unit into five or six separate studio apartments. With brick walls and hastily installed plumbing, high rental income could be collected within months. It was a free-for-all era where profit was king, and no one worried about ceiling leaks or exceeding building load limits.However, this old world is crumbling. Amendments to the Building Act and Regulations on Interior Decoration Management, coupled with increased neighborly vigilance, have changed the game. Now, starting any unauthorized renovation can lead to a stop-work order from the building department the very next day, hefty fines ranging from $2,000 to $10,000 USD, and even…