Joshua Racicot -Rate

Own Rental Properties in Massachusetts? This New Law Could Cause Major Headaches

A bill moving forward in MA could create a Tenant Opportunity to Purchase right in cities and towns that adopt it locally.
What does that mean?

If you own certain rental property and decide to sell, tenants may get a chance to organize, form a tenant association, and potentially match a third-party offer before the sale goes through.

A few big takeaways for landlords:
• This would be a local option, so it may apply in some municipalities and not others
• It adds notice requirements, timelines, and documentation rules before a sale can move forward
• It can also affect short sales and foreclosure situations
• Some owners and properties may be exempt, but not everyone will be

Bottom line: if this passes and your city or town adopts it, selling certain rental property in MA could become a lot more procedural and time-sensitive.

This is the kind of legislation that landlords and real estate investors should be watching before they decide to list, transfer, or restructure a property.

If you own rentals in Massachusetts and want to talk through how changes like this can impact your financing, exit strategy, or next purchase, let’s connect.

And as always—if you know a landlord, real estate investor, or property owner who could use a good lending resource, I’d really appreciate the referral.

Proposal giving tenants first right of refusal to buy multifamily properties resurfaces in House After getting cut out of the Legislature's last major housing bill, the so-called Tenant Opportunity to Purchase Act found new life in the House's policy-dense $561 million economic development bill.