Landlords would offer tenants a chance to buy rental properties

Landlords would offer tenants a chance to buy before selling or giving notice to leave for demolition, repurposing, or sale. The offer would cover the rented home or the property where it stands. Landlords would deliver the offer by hand, electronic message, or certified mail. If tenants rejected a compliant offer or did not respond within 45 days, owners could immediately sell to another buyer at the same price and on the same key terms. The 45 days would start when the tenant received the offer. The proposal listed July 1, 2025, as its effective date, but it died without becoming law.

Landlords would make a genuine sale offer and could not keep an ownership share. These rules would cover offers for the rented home or the property where it stands. The price could not exceed a comparable price between a willing buyer and seller or the property's appraised value. Tenants could challenge whether the offer was genuine and request a licensed appraiser's valuation at their own expense. Tenants would give written notice of a challenge by hand, electronic message, or certified mail.