What is the Tenant Notification Ordinance?

Properties containing three or more rental housing units at the time of sale must provide notice to all tenants and the City that a transfer of ownership has occurred. Once notice is provided, a three-month "tenant notification period" begins. During the 90-day period, the new owner may be required to pay relocation benefits to a tenant if the owner issues a non-renewal without cause or non-renewal due to rescreening. The new owner could also be subject to paying relocation assistance if they increase the rent, re-screen existing residents, or implement a material change to the lease resulting in a tenant giving the notice to terminate their lease.

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1. What is the Tenant Notification Ordinance?
2. What does this mean for renters?
3. Why was this ordinance adopted?
4. When does the ordinance apply?
5. Who needs to be notified?
6. Are there income restrictions that apply?
7. Does a tenant need to move out during the three-month tenant notification period to qualify for relocation assistance?
8. Does the ordinance apply if the management changes in the building?
9. When does the new owner have to provide relocation benefits?
10. Does a transfer of sale include an ownership transfer to an immediate family member? Or as the result of inheritance?
11. Would the policy apply to bank-owned or foreclosed properties?