The California Apartment Association has derailed a bill that would have created an immediate hurdle for owners wanting to put their property on the market.
AB 2710 by Assemblyman Ash Kalra, D-San Jose, died Wednesday in the Assembly Housing and Community Development Committee. The author, lacking the necessary votes to advance the legislation, pulled the item from consideration.
Under Kalra’s bill, rental owners would have been prohibited from putting their properties up for sale — whether they be apartments or a single-family rental — until they’ve given advance notice to “qualified entities,” such as certain tenant organizations, community land trusts, and affordable housing nonprofits. The notified groups would then have had first right to purchase the property and receive excessive time — nearly one year — to secure financing. A group expressing interest in buying the rental property would have had to contact each tenant to share the news, a potential invasion of privacy.
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