The San Francisco condo conversion lottery is held annually, typically in late winter. In 2006, lottery tickets cost $150. The lottery itself grants conversion rights to up to 200 units. It is important to note that it is 200 UNITS, not buildings. In actuality the number of buildings that actually convert is approximately a fourth of that number. Tickets may be purchased without proof of qualification for conversion. However, if selected the owner will have to meet condo conversion requirements prior to converting. Lotto tickets are generally available for approx 60 days prior to the lottery with the deadline to purchase tickets ending about two weeks prior.