An Act to guarantee a tenant’s first right of refusal

This bill creates a new legal option for Massachusetts municipalities to allow tenants to have the first opportunity to buy their rental homes if those homes are being sold due to foreclosure or other financial transactions. Under the proposed law, a tenant association representing at least 51% of the occupied units would be formed to negotiate a purchase directly with the property owner, provided the new owner commits to keeping the housing affordable for at least thirty years. The legislation defines specific terms such as "Housing Accommodation" and "Long-Term Affordable Housing" to ensure clarity and sets strict criteria for which properties and organizations can participate in this process. Ultimately, the bill empowers local communities to decide whether to implement this tenant protection measure, aiming to prevent displacement and maintain affordable housing stock.