‘Vulture Season’ in Massachusetts Is Closed for Now
Landlords and developers got two wins in the last 30 days in the fight to stop tenant “right of first refusal” or “TOPA” laws: one on Beacon Hill and the other in a Middlesex County Courtroom.
Landlords and developers got two wins in the last 30 days in the fight to stop tenant “right of first refusal” or “TOPA” laws: one on Beacon Hill and the other in a Middlesex County Courtroom.
The pandemic has cast a spotlight on the precious living situation of so many people in Renter Nation, from surging rents to evictions. Now, legislators are debating a range of bills from renters’ right of first refusal to changes in who oversees real estate agents’ licenses.
Think single-family prices have gotten out of hand in Greater Boston? Well, wait till you see what’s happened with the backbone of the local apartment market, small rental properties. Now, an inevitable backlash is building.
Although benign-sounding, the two bills would literally destroy rental housing through their provisions for “small amounts of demolition,” among other draconian measures.
Massachusetts’ small-landlord trade groups have launched a push calling on Gov. Charlie Baker to reject the omnibus economic development bill passed in the early hours of Wednesday morning over provisions that would grant apartment tenants the right of first refusal if a landlord sought to sell the building.
In Headquarters Hotel LLC v. LBV Hotel LLC, a court ruled that a buyer rejected an offer by refusing to execute a confidentiality agreement required by the seller as part of the offer under a right of first offer provision.
Boston is planning to ask state legislators for freedom to increase the per-square-foot affordable housing and job training fees the city charges developers when they want.