Every Hutton conversion that has cleared its shareholder vote has gone on to close, 100% completion post-vote, across more than 5,000 units converted. We clear the vote itself more than 80% of the time. Jack Boyajian, Hutton’s President, has led Hutton’s conversion practice since 1992 and runs the Conversion Education Process directly with shareholders before any vote is called. If your board doesn’t know its actual threshold yet, from its own documents and from its state, that’s the first thing worth finding out. Ask us and we’ll help you read it.
What percentage of shareholders has to approve a conversion?
Two-thirds, share-weighted, is the most common floor, and it is the figure a board should plan around until it knows otherwise. Treat it as a starting point rather than a rule, because two separate things move it. Your building's own bylaws and proprietary lease can set the bar higher, and some set it lower. Separately, the law of the state you are in varies: the threshold is not uniform across the country, and in some states a lower bar than two-thirds has been enough. Which combination governs your building is one of the first things we establish in a feasibility study. It is worth knowing before a board plans a vote around a number it assumed.