Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Richmond council directs ordinance drafting to regulate tenant buyouts with strongest oversight
Summary
The Richmond City Council voted unanimously Thursday to direct the city attorney to draft an ordinance imposing strong oversight of landlord "buyout" agreements after the city’s rent board recommended the strictest regulatory option.
The Richmond City Council voted unanimously Thursday to direct the city attorney and the Richmond Rent Program to draft an ordinance that would regulate landlord ‘‘buyout’’ agreements under the rent board’s recommended option, the highest level of oversight.
The directive follows a presentation by Nicholas Traylor, executive director of the Richmond Rent Program, who told the council that “buyouts are happening all the time in Richmond” and described the policy features the rent board favors, including mandatory disclosures to tenants, a 45‑day rescission period and minimum compensation at least equal to relocation…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
