Mayor Scott signs 'Councilmember Mary Pat Clarke Tenant Opportunity to Purchase Act'
BALTIMORE -- Mayor Brandon Scott signed the Councilmember Mary Pat Clarke Tenant Opportunity to Purchase Act into law Monday, the mayor's office announced Monday.
The act mandates that if a property owner or landlord wants to sell their property, they must first provide their current tenant an opportunity to pursue a purchase.
"The Councilmember Mary Pat Clarke Tenant Opportunity to Purchase Act will help give back some power to renters in Baltimore City who are hoping to pursue the dream of homeownership and stay in their homes when a landlord decides to sell," Scott said.
The mayor's office said the legislation will help families in Baltimore by eliminating barriers to homeownership.
"Homeownership is one of the greatest generational wealth builders that families and communities have. By signing this bill into law, we are making a statement that we want to expand every opportunity for residents who rent to take the leap into homeownership," Scott said.
The act was inspired by previous legislation led by former Baltimore City Council President Mary Pat Clarke, who worked on the original Tenant Right of First Refusal bill. That bill had the same purpose, but became obsolete due to other legislative changes, the mayor's office said.
"This is an important piece of legislation to ensure that renters have the best chance to purchase the home in which they already live," Councilwoman Odette Ramos (District 14) said. "Our version makes the law much stronger, as it was originally intended by then Council President Mary Pat Clarke when she worked with St. Ambrose and other advocates to pass the very first Right of First Refusal law in the nation."
With the new act, a tenant has 14 days to make a decision to sign a letter of intent to purchase and enter a contract, or the owner can move forward in the process of selling the property to any potential buyer.
The legislation also implements a number of reporting and data requirements.