Certain homeowners in DC will likely cheer legislation introduced on Tuesday that, if passed, will exempt their homes from the city’s controversial TOPA regulations.
At-Large Councilmember Anita Bonds introduced the “TOPA Accessory Dwelling Unit Act of 2017” which would exempt owner-occupied, single family homes with accessory dwelling units from the city’s Tenant Opportunity to Purchase Act.
Under the bill, only properties with two units would be exempt, and one of the units must occupy at least two-thirds of the total square footage and be occupied by the homeowner. In short, TOPA gives residents of a home the right of first refusal if their landlord or the owner puts the home on the market.
“In single-family homes with one accessory dwelling unit, some tenants have abused the spirit of the law by delaying the sale of the property for up to 6 months and demanding large amounts of money from the owner in exchange for not exercising the TOPA law,” a press statement from Bonds’ office read. “This practice has led to a growing cottage industry of ‘TOPA lawyers’ and adds to the overall cost of a single family home sale which is passed to the buyer and decreases affordability. The Committee on Housing and Neighborhood Revitalization has reviewed all single-family home TOPA offers of the past several years and found that offers very rarely resulted in tenant purchases.”
- The TOPA Arbitrator: This DC Company Wants to Help Tenants Buy or Sell Their Rights
- Capitol Hill Tenant Offering TOPA Rights to the Highest Bidder
This article originally published at http://dc.urbanturf.com/articles/blog/a_proposed_bill_would_exempt_certain_dc_homes_from_topa/12660
Most Popular... This Week • Last 30 Days • Ever
DC's homebuyer assistance programs can be a bit complex. This edition of First-Timer ... read »
A look around DC to see where home sellers are dropping their prices.... read »
Just a month after setting a new high in March, the value of a house in DC skyrockete... read »
The National Capital Planning Commission will consider approval of the final master p... read »
The new five-level residential project is planned for the buildings at 1365-1375 H St... read »
Our guide for amateur landlords who don't really know what they're doing.... read »
UrbanTurf has compiled virtual looks at large new developments around the DC region.... read »
The eight-bedroom, 35,000 square-foot home known as The Cliffs hit the market Wednesd... read »
Brookfield Properties is moving forward with development plans for additional sites i... read »
The most detailed rendering yet has been unveiled for the 310-unit redevelopment of t... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... read »
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro