Rental property owners would give tenants a chance to buy first

An owner would have to notify tenants and invite purchase offers before offering a rental property to the public or accepting another buyer's offer. The rules cover rental properties with fewer than four dwelling units. They do not apply to the types of transfers listed in the bill, including transfers to an owner's family or wholly owned business. The notice must include the sale terms the owner would accept and any deadline, and say it is not a sale contract. An owner must accept an offer on the same or better terms as the notice, or explain differences in a counteroffer. The tenant has five days to accept or reject a counteroffer; silence counts as rejection. If another buyer makes an offer, the owner must give the tenant a chance to offer on the same terms before accepting it. The owner may proceed if the tenant does not make an offer on those terms. Exceptions include certain family, court, estate, and government transfers, and properties with four or more units. A tenant may offer within 30 days after the owner sends notice. If enacted, the rules would take effect after publication in the statute book.

A tenant who buys a property under these rules could not transfer its ownership or occupancy for at least two years. This applies to a tenant who buys a dwelling unit from its owner under these rules. The restriction applies after the sale closes. The two-year period starts on the date the sale closes.

An owner who violates these rules would be subject to remedies under Kansas consumer protection law. The rule applies to an owner's violation of this section. The bill says these remedies would be in addition to other remedies provided by law.