Tenant Buyout Agreement Transparency Amendment Act of 2025

This bill requires property owners to provide tenants with a written disclosure notice before making a buyout offer, explaining tenant rights and agreement terms in the tenant's primary language. It mandates that buyout offers be at least equal to relocation assistance payments under current law (Section 703(b) of the Rental Housing Act of 1985) and the same for comparable tenants, with a maximum payment set by the Rental Housing Commission based on household size and unit rent. Buyout agreements must be in writing, include a clear statement about the tenant's right to decline, and be filed with the Department of Housing and Community Development within 60 days. These provisions aim to prevent exploitation by standardizing negotiations and ensuring transparency in tenant buyout transactions.