What happens if I purchase a rental property within one of the RRI target areas?
A. Persons acquiring an ownership interest as the result of a sale, transfer or conveyance of a dwelling within the designated residential area shall within 30 days of sale, transfer or conveyance, apply for a residential rental certificate. Any person selling, transferring or conveying an ownership interest in a dwelling shall expressly inform any person acquiring or receiving an ownership interest in a property that a residential rental certificate is required by the city. The RRI application forms are available at www.city.milwaukee.gov/dns. The application shall be signed by the owner, and shall state the street address of the dwelling to be inspected, the owner’s legal name, the owner’s phone number and date of birth. In the event of a sale, transfer or conveyance of a property within 3 months of the initial issuance of the certificate, the certificate may be transferred to the new owner until the end of a certificate valid for one year, or one year from the date of issuance of th
Related Questions
- Can I use the Downpayment Assistance Loan Program to purchase rental property? Can I rent out a property later after I live in it for a while?
- My rental property is located in one of the RRI target areas. What steps do I need to take to comply with the new requirements?
- What happens if I purchase a rental property within one of the RRI target areas?
