What does this mean for renters?

Upon sale of a property, tenants in New Brighton are no longer subject to immediate changes to their rental terms that could impact their housing. Renters will be given a minimum of 90 days grace time before changes can be made by a new owner. If the required grace time is not provided by the new owner, a tenant may be entitled to relocation assistance in the amount of three months' rent.

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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?