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(a) Notice prior to listing required. No less than 30 days prior to listing or otherwise offering a rental property for sale, the owner shall provide notice to the tenant association, or if no tenant association exists, to each tenant, and to the Department, of the owner's intent to sell. The notice required by this subsection shall be delivered in person or mailed, by certified or registered mail, return receipt requested, on a form provided by the Department, and shall contain the following information: (1) the name, address and telephone number of each owner of the rental property; (2) the address of the rental property; (3) a description of the rental property, including the number of units and the number of bedrooms within each unit; (4) the proposed asking price for the rental property; (5) a statement that the owner intends to sell the rental property; and (6) a summary of tenant rights under this chapter. The owner shall also post a notice of intent to sell in a form provided by the Department at all public entrances to the rental property. The owner shall keep all return receipts required by this subsection (a) for a period of three years after the sale of the rental property, and make such receipts available for inspection by the commissioner at all times during the owner's business hours.
(b) Additional disclosures. The tenant association, or if no tenant association exists, any tenant in the rental property, or the Department, may in writing, at any time after receipt of the owner's notice of intent to sell, request the following additional information:
(1) the most recent rent roll, including each unit number and the monthly rent charged for each unit;
(2) a list of vacant apartments, and a statement of the rental property's vacancy rate during the preceding 12 months;
(3) the income and expense report for the 12 month period prior to the notice, including capital improvements, real property taxes and other municipal charges; and
(4) any other information the commissioner may specify by rule.
The owner shall have a period of 30 calendar days from receipt of such request to provide the information.
(Added Coun. J. 9-9-20, p. 20074, § 10)