What's Hot: Where Are People House-Rich in DC? | Rendering Revealed for One of the Largest New Residential Developments in Friendship Hts
The TOPA Arbitrator: This DC Company Wants to Help Tenants Buy or Sell Their Rights
In a city with famously tenant-friendly laws, the Tenant Opportunity to Purchase Act (TOPA) is perhaps the most crucial in DC, giving renters the right of first refusal when their landlord plans to put the property on the market.
And naturally, there is now a company that wants to help those renters either buy or sell those lucrative rights.
TOPA Market is a Capitol Hill-based business that advises tenants who learn that their home is for sale. The company will explain the renter’s options and assist them in negotiating a favorable outcome.
TOPA Market is run by law firm In Rem, a company led by Andrew McGuire. McGuire has advised on several TOPA-related cases during his 20-plus years practicing law, and TOPA Market was founded nearly a year ago in order to focus solely on cases like these.
story continues below
loading...story continues above
“In the last year, we’ve helped [at least six clients] recoup over $100,000 in assignment fees, probably another 12 months of free rent or abated rent, and probably another $10,000 or $20,000 in back rent or other debts owed to landlords written off,” McGuire told UrbanTurf.
TOPA allows renters to either purchase the property they live in or use their right of first refusal as leverage to secure repairs or moving expenses, cash buyouts or other negotiated benefits. TOPA Market gets compensated via a percentage of whatever payment that is negotiated for the tenant: one-third of any negotiated awards if the matter is settled prior to litigation, or 40 percent if the case goes to court.
With a firm dedicated to negotiating TOPA-related issues for tenants, we can expect more home sales playing out similarly to the situation with this house on Capitol Hill last year.
Similar Posts:
See other articles related to: topa, tenant rights, right of first refusal
This article originally published at http://dc.urbanturf.com/articles/blog/got_topa_this_company_wants_to_help_you_exercise_your_right_of_first_refusa/12297
Most Popular... This Week • Last 30 Days • Ever

Our guide for amateur landlords who don't really know what they're doing.... 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 »

Developments both big and small are continuing to churn throughout the Anacostia area... read »
- The Essential Guide to Being an Amateur Landlord in DC
- $39 Million + A Basketball Court Over the Potomac: The DC Area's New Most Expensive Home For Sale
- 671 Units + a Waterfront Park: A First Look at the Big Plans Next to Nats Park
- Rendering Revealed for One of the Largest New Residential Developments in Friendship Heights
- The 17 Developments in the Works Between Anacostia and Buena Vista
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!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro