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What is BMR Unit?

April 26, 2017bmr general area real estate community San Francisco

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What is BMR Unit?

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Hi, This is a Below Market Rate unit. These units are sold to individuals that meet certain income requirements at prices below current market prices. The idea is to allow for affordable housing in the city. There is an application that must be filled out and your income cannot exceed the requirements set forth by the city. In addition typically if you go to sell the property, you will need to sell it as a BMR unit. Appreciation of the property is typically set and the rate of inflation and not more. Each city has different requirements and if you are interested you can check out more regarding the requirements at: http://www.sfgov.org/site/moh_page.asp?id=48003. If you have any other questions, you can email me.