Action/Alerts

We are preparing to join a lawsuit against the recently enacted Tenant Buyout Registration legislation, we want to locate SPOSFI members who are interested in doing a buyout. If you are a property owner who wants to buy out a tenant but are discouraged from doing so because you do not want to register and have your private negotiations and business decisions become public record, please let us know.

Below are listed some of the new conditions imposed if you wish to do a buyout. The Campos-sponsored legislation, Ordinance 225-14, was passed in November, 2014.

The new law:

• Requires buyouts to be filed and registered with the San Francisco Rent Board.
• Imposes the same condo conversion prohibitions as for no-fault evictions when a tenant has vacated under a buyout agreement after October 31, 2014.
• Requires landlords to notify tenants of their rights (in a form developed by the Rent Board) prior to negotiating a buyout.
• Gives tenants the right to rescind a buyout for 45 days after signing the agreement.

Thank you.

Noni Richen, SPOSFI President