TENANTS-RIGHT OF FIRST REFUSAL

Summary

The bill creates a Right of First Refusal Act for multi‑unit residential rentals. Landlords must notify each tenant and the tenants’ association of a bona‑fide sale offer and give them 60 days to match the price and terms, with a possible 10‑day extension if the owner later lowers the price by at least 20%. The rule does not apply to condominiums and allows the right to be transferred to certain public or nonprofit entities.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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