Humber/Ontario Real Estate Course 2 Exam Practice

When performing a conversion of an industrial property to residential, what must be taken into consideration?

1. Zoning codes in the industrial area.

2. Grandfather clauses on previous use.

3. Building’s historical significance.

4. Compliance with residential health and safety standards.

5. Commercial property tax implications.

6. Length of time the building was unused.

The correct answer is: Compliance with residential health and safety standards.

When performing a conversion of an industrial property to residential, it is essential to consider compliance with residential health and safety standards (Option D). This is crucial to ensure that the property meets the necessary regulations and requirements for residential use, including factors like proper ventilation, safe electrical systems, plumbing, fire safety, and overall habitability. Zoning codes in the industrial area (Option A) may be important to understand any restrictions or regulations that could impact the conversion process, but the primary concern when converting to residential should be meeting residential standards. Grandfather clauses on previous use (Option B) and the building's historical significance (Option C) are more relevant in the context of preserving the property's existing use or historical value, rather than converting it to a different use like residential. Commercial property tax implications (Option E) are more relevant when dealing with commercial properties and may not be directly related to the conversion process from industrial to residential. The length of time the building was unused (Option F) may be a consideration for assessing the condition of the property or any maintenance issues that may have arisen during its vacancy, but it is not as critical as ensuring compliance with health and safety standards for residential use.