Property Rezoning: A Complete Guide to the Real Estate Investors
Can you earn from your property? Or, do you want to convert your commercial building into a townhouse or a residential property? But how to do this?
The answer is ‘Property Rezoning’.
Property Rezoning can be beneficial for you, being a landowner, if you wish to change your property to allow for a specific land use’s rights on a property. Through the rules of property rezoning, you can build a shopping center in a rural area, or build parks in the place of farmlands, or vice-versa.
But before undergoing the procedure, you have to go through every consideration stated under the process of property rezoning.
Now, in some cases, the Local Government can observe that there is a need for community change, then they themselves can rezone the area or change its zonal classification.
So, here’s a complete guide for you to let you understand clearly what property rezoning is; what is the related process; as areal estate investor, what should you be aware of how a real estate agent can help you all around?
The main function of zoning in the real estate market is to decide what can be done on a particular piece of land. It further contains a set of laws that can be implied in that particular area.
It divides the areas on the basis of residential, commercial, or industrial uses while regulating other things as well, such as density, height, yard setbacks, and so on.
How to change zoning?
Zone changing can be a difficult and costly process, while the complexity of the process further depends upon the location of the property. Also, there is no assurance that after following the procedure, the zoning will be changed. (Do not be scared. The guide is here to help you throughout.)
The procedure involves a petition by the landowner to the governing board to change the zoning of the property. Now, due to the absence of any zoning ordinances, costs and difficulties will arise.
But do you know that every city, town, and country consists of its own laws, restrictions, and processes? For instance, a city’s zoning laws can vary from its neighbouring city.
You must know that changing zones is more of a political process. So, there exists public hearings and getting legislative approval, thereafter. As a result, this leads to a quite costly process.
While every place has different laws, the procedure for changing the zones can be written only in a generalized way. In this procedure, the real estate agentcan come on behalf of the landowner and fulfill all the formalities on his behalf.
So, let’s discuss what they will do before zoning!
1. Proper investigation of the property: At this stage, yourReal Estate Consultant in Fresno, CA will find out about the proposed changes near the property so that he can make a petition based on those reasons.
Remember that some locales can support the landowner’s rights, while others may be quite restrictive. Hence, observing the changing conditions around you will be the best thing.
2. Finding out the local rules: It’s really important to first understand the local rules around your property. The real estate consultants need to identify the rules in their zones and what can currently be done and what cannot be done.
Then the staff will review and recommend what can be done on the rezoning request. Therefore, an agent can put their best foot forward.
3. Communicating with your neighbors: Anything which can restrict your zone change is your ‘neighbor’. Therefore, it’s always a good idea to communicate with your plans and hash out any concerns if required.
Hence, for a smooth process, the agents can try talking with your neighbour.
4. Applying for zone change: This requires filling out some necessary forms. Your consultant will make sure that he fulfills every department's requests, which are quite large in number. The formalities may include all the maps, surveys, traffic, and mailing labels. Also, all the processes involve fees, which makes it a costly process.
5. Review of your submitted application and staff analysis: After the application is submitted, the associated staff will analyze your recommendation thoroughly and, hence, take it from the planning commission and legislative body. The petitioner can also be part of this analysis. The agents have to provide everything and anything the staff requires and they can even ask them about the communication and relations with neighbours and adjust their plan accordingly.
6. Planning commission meeting: Once the process of analysis is completed, the matter goes to the local governing body. A public meeting will be advertised where the petitioner will be required to be present to answer any questions or concerns. The petitioner does not need to go any further if the planning commission makes a favorable recommendation.
7. Legislative body meeting: In the end, the case goes to the local legislative body for further voting. At this moment, the real estate agent or the petitioner will get the opportunity to speak and keep up their point. If the voting goes the petitioner's way, then they are good to go, otherwise, the petitioner needs to wait for another year.
The whole process of rezoning your property involves an approximate period of almost 6 months.
Another set of considerations that must be addressed:
The aforementioned steps are very obvious and simply required for the rezoning of your property. But the petitioners also need to consider some other additional information when thinking about changing their zone.
1. Understanding that zoning is political: You have to understand that zoning is totally political. Now, what does this mean? Being political means that the decision may not always be what is right, and the results may be political. This way, your petition may be extended according to politics--maybe after the election.
2. Real estate consultants can be your best guidance: Jumping into this extensive political process may be daunting, and hence, at these times, you require a person who is aware of all the political laws and behaviors. Therefore, hiring one of the top real estate agents in Fresno, CA like Paul Singh Realtor could be your best decision.
3. The profitable side of rezoning: the process can be extremely profitable for the landowner, as understanding zoning can be another arrow in an investor’s real estate quiver.
To Sum Up:
You must be clear with the idea that it is seldom easy to change zoning regulations, and as an applicant, you might encounter a lot of hurdles along your way. On the contrary, your hard work will pay later, as Property Rezoning can have a lasting effect on your revenues.
To give you a clearer view, this guide can help you undergo the rezoning process with the assistance of a real estate consultant who is generally equipped with a better understanding of the zoning laws of a particular city. Consult with the best of the bests and head towards making money through your real estate property.