Boston: Council Supports Tenant First Right of Refusal Legislation

~ The Council adopted a resolution supporting Massachusetts legislation that would give tenants the first opportunity to buy their residential building when its owner decides to sell.

The resolution backs H.1544 / S.998, An Act to Guarantee a Tenant's First Right of Refusal, and urges the state Legislature to advance and enact the measure. The proposal would let tenants form an association and pursue a purchase, either on their own or with qualified partners such as nonprofit organizations, community development corporations, affordable housing developers or community land trusts.

Those partners could help tenants obtain financing and complete a purchase, according to the legislation's description in the resolution. The proposal would set procedures and timelines for notifying tenants of a sale and exercising their purchase opportunity.

More on EntSun News

• How Laurent Gabay and Fashion Sourcing Are Transforming High-End Clothing Manufacturing
• Laurent Gabay on the Importance of Fashion Sourcing: Where to Find the Best Products Worldwide
• Citizens for West Virginia Election Integrity Urges "FOR" on Amendment 1
• Vegan Kingz Expands Direct-Import Wholesale Lineup to Help Commercial Kitchens Cut Ingredient Costs
• Everything Policy Unveils Their Classroom Resources Behind Every Policy Topic

Tenants would have the chance to match an offer from a third-party buyer, but owners would not be required to sell for less or on different terms. If tenants declined to buy, the owner could proceed with an outside sale. The legislation also includes exemptions for certain properties and circumstances, including specified small property owners, some family transfers and new construction.

The Council said the measure could help preserve "naturally occurring affordable housing," a term used by housing advocates for unsubsidized rental homes that may be relatively affordable because of a property's age, size or condition.

The resolution cited Massachusetts' affordable housing shortage and the risk that rental properties could be converted, redeveloped or subject to rent increases that contribute to displacement. It said giving tenants a meaningful opportunity to purchase their homes could promote housing stability, preserve affordability, reduce displacement and strengthen neighborhood continuity in Boston.

---

Show All News | Disclaimer | Report Violation