Boston City Council backs bill giving tenants first chance to buy their buildings
The council adopted a resolution urging the Massachusetts Legislature to pass a bill that would let tenants match outside offers when their building goes up for sale.
The Boston City Council has adopted a resolution supporting state legislation that would give tenants the first chance to buy their buildings when an owner decides to sell, and urging the Massachusetts Legislature to pass it, the council said Tuesday.
The bill, titled An Act to Guarantee a Tenant's First Right of Refusal, follows a model commonly known as a Tenant Opportunity to Purchase Act, or TOPA. It would let tenants organize through a tenant association and pursue a purchase on their own or with partners such as nonprofit organizations, community development corporations, affordable housing developers or community land trusts. Those partners could help tenants secure financing and complete a purchase, according to the council.
The council said the measure is meant to help preserve what housing advocates call "naturally occurring affordable housing": unsubsidized rentals that tend to be cheaper because of a building's age, size or condition. The council pointed to the state's affordable housing shortage and said existing rental housing remains vulnerable to conversion, redevelopment and rent increases that can push out current residents.
Under the bill, tenants would be notified when a property is offered for sale and given set timelines to act. Owners would not be required to sell for less, or on different terms, than an outside buyer offers; tenants would instead have the chance to match a third-party offer. If tenants choose not to buy, the owner could sell to the outside buyer. The bill exempts some small property owners, certain family transfers and new construction, among other cases.
The council's resolution says giving tenants a meaningful chance to buy their homes could promote housing stability, preserve affordability, reduce displacement and strengthen neighborhood continuity across Boston.
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