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Committee hears compromise on shortening notice when seller accepts buyer who will occupy unit; tenants’ advocates, realtors reach agreement
Summary
Senate Bill 586 would change landlord notice rules when a tenant-occupied unit is sold to a buyer who intends to occupy it; stakeholders presented a negotiated compromise that preserves a 90-day option but allows a 60-day notice if the buyer provides one month’s rent as relocation assistance.
The Senate Committee on Housing and Development held a public hearing on Senate Bill 586, a bill that would modify the notice a landlord must give a tenant on a fixed-term tenancy when selling the dwelling unit to a buyer who intends to reside in it.
Senator Mark Meek said the 2019 statute created a landlord cause to terminate tenancy when a buyer offers to occupy the unit, but the 90-day notice period has created practical obstacles for buyers and sellers completing typical…
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