Back in March, UrbanTurf re-published an article about the Tenant Opportunity to Purchase Act (TOPA), which gives building tenants in DC the right of first refusal when their landlord intends to sell the building in which they reside.
A reader found herself in a TOPA situation recently when her landlord gave the tenants of the three-unit building 60-day notices to vacate and also stated an intention to sell the property. However, the landlord did not formally furnish record of the listing price or any existing offers for the property, leaving the onus on the tenants to pursue a purchase. The landlord also pressured the residents to vacate prior to the 60-day expiration of the lease, according to the reader.
So what recourse do the tenants have? Landlord and tenant attorney Emilie Fairbanks told UrbanTurf that the tenants first need to decide if they want to try and purchase the building. If they don’t, they should think through trying to stop the sale as that could result in keeping a landlord who can’t afford to keep up the property, which is not a great outcome for the tenants.
That said, tenants do have the legal power to intervene and prevent the property from being sold. Moreover, a landlord cannot terminate a lease with a tenant unless it is “for cause”, which means that the tenants can refuse to vacate without being given a legitimate cause for the termination.
Tenants can decide to just move out, and in TOPA cases that UrbanTurf has covered in the past, they are often paid to do so by the landlord. In an article from 2012, we covered the TOPA process for the Garden Towers complex next to Meridian Hill park where many residents received $20,000 payments to vacate.
This article originally published at http://dc.urbanturf.com/articles/blog/can_you_still_exercise_topa_when_given_ntv/11253
Most Popular... This Week • Last 30 Days • Ever
The planned 8-unit development would be located on K Street right along the Potomac R... read »
Landmark Theatres is in the final stages of negotiations that would have it operating... read »
The housing market last month was not as hot as September 2020, but that is probably ... read »
The next phase on the Center Block would deliver 166 apartments and 221 hotel rooms.... read »
DC's crane count still ranks as one of the highest among U.S. cities despite a declin... read »
UrbanTurf has compiled virtual looks at large new developments around the DC region.... read »
The preferred mortgage product among most home buyers is the fixed-rate mortgage. How... read »
STAY DC provides rental aid and utility payment grants to at-risk District residents ... read »
The yet-to-be-built home may set a new bar for luxury in the residential real estate ... read »
Federal Realty plans to eventually file a planned unit development application for th... 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