Actually, I am not sure of the exact conversion charges, as those are set by the authorities. But I have seen from living in a converted flat that the true cost is not just the government fee—it’s the years of higher rent that follow. Our landlord converted the leasehold years ago, and now our rent is nearly double what the old tenants paid, all for the same walls. Sometimes the official charge is just the first bite; the real cost comes every month when you pay.
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