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Richmond Rent Board affirms strict tenant buyout policy, directs staff to seek city ordinance
Summary
The Rent Board unanimously affirmed its previously adopted high-oversight tenant buyout policy (Option 3), directing staff to present the policy at a City Council study session in September 2025 and to work with the city attorney to draft an ordinance for consideration in October/November 2025.
The Richmond Rent Board on July 16 unanimously affirmed the board's previously adopted high-oversight tenant buyout agreement policy (Option 3) and directed staff to present that policy at a Richmond City Council study session in September 2025 and to work with the city attorney to draft a buyout agreement ordinance for consideration in October or November 2025.
Board members voted unanimously to advance the policy after staff described Option 3 as the most comprehensive regulatory approach the board considered. The board's action directs program staff to present the board-approved policy to the City Council in September and to return with a draft ordinance later in the fall.
Why it matters: The policy would regulate private "buyout" agreements—cases in which a landlord offers a payment for a tenant to voluntarily vacate—to reduce coercion, require language…
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