(a) Notice of conversion. An owner must not convert rental housing unless the owner notified each tenant in the rental housing at least 120 days before converting the building. Before renting to a prospective tenant during this 120-day period, the owner must notify the prospective tenant about the conversion.
(b) Termination of lease. A tenant who receives a notice of conversion may terminate a lease without penalty at least 30 days after notifying the owner in writing.
(c) Tenant relocation assistance. The owner must pay a tenant relocation assistance equal to 2 months’ rent if the tenant moves out of the rental housing within 180 days after the tenant received the notice of conversion required by subsection (a). The owner must pay the relocation assistance not more than 10 days after the owner received the tenants’ notice of termination under subsection (b). (1990 L.M.C., ch. 34, § 1; 2001 L.M.C., ch. 32, § 1.)