Latest news with #TenantOpportunitytoPurchaseAct
Yahoo
28-05-2025
- Business
- Yahoo
DC councilmembers, advocates debate the future of TOPA
WASHINGTON (DC News Now)—The future of TOPA is up for debate in the District. On Wednesday, nearly 200 people signed up to testify about the future of the program. TOPA, or the Tenant Opportunity to Purchase Act, has been in place since 1980. It gives tenants the first right to purchase if their landlord is selling their building. The policy is intended to prevent displacement. However, developers have argued that it's made it difficult to do business in the District, slowing down sales and jeopardizing new development. 'What we're seeing in DC is really a troubling trend of lack of investment in housing,' said Liz DeBarros, CEO of the DC Building Industry Association. 'We've had a lot of regulations over the years. TOPA is obviously one of them that hasn't been modernized in a number of years.' 'It's past time to act': DC jail audit shows urgent need for new facility, despite budget cuts DeBarros supports the Mayor's proposed RENTAL Act, a piece of legislation that, in part, reforms TOPA. Under the RENTAL Act, market-rate housing would no longer be eligible for TOPA, though low and moderate-income housing would. It would also exempt new buildings from triggering TOPA for 25 years. '(If passed) it will signal to the market that DC is ready for investment, that the hurdles that we've had in the past will get out of the way. I think it'll have an immediate reaction to the market,' she said. 'A lot of the concerns that have been raised are things that can be explained by other causes, lack of people paying rent, differences in urban versus suburban settings,' said councilmember Brianne Nadeau. Nadeau proposed a competing piece of legislation to address TOPA concerns. 'Shortening some of the timelines, it goes after bad actors who have been manipulating the system. It makes things more clear, creates templates. Overall, it streamlines the process,' she said. The councilwoman would like to preserve TOPA rights for all. Her bill keeps market-rate buildings eligible and only exempts new builds for three years. 'Three years is about how long it takes to fill a building. So if you're just wanting to get out of a deal, you can do that before it's filled with tenants and before you're actually taking away someone's fundamental rights in DC,' she said. DC mayor presents 2026 budget amid forced cuts, impacts from federal job loss 'TOPA is wild. If you've never gone through TOPA, you may have no idea about it. TOPA has also been part of DC's process since the 1980s,' said Maya Brennan, Chief Housing Officer with the Coalition. Brennan agrees that some changes to TOPA are necessary, but she wants to ensure the purpose and value of TOPA are maintained. She argues the program is being used as a scapegoat for other issues occurring in the housing market. 'We have not seen over the history of TOPA that TOPA has actually been the challenge,' she said. 'TOPA is something that exists in DC but not in Maryland and Virginia. It makes people think it's TOPA, but it's really a scapegoat. The issue is actually about a combination of rent arrears and a shift to lower-cost places to get land, which are the suburbs usually.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
18-03-2025
- Business
- Yahoo
Advocates rally to preserve TOPA program in DC
WASHINGTON ()—Tenants rights advocates are calling on the D.C. Council to vote 'no' on a proposal that would make changes to the Tenant Opportunity to Purchase Act (TOPA) program. TOPA was passed in 1980 and is intended to prevent the displacement of residents while creating a path to homeownership. Under the law, tenants have the first opportunity to buy their building if it goes up for sale. 'TOPA gives tenants rights to either purchase their building or negotiate with an incoming buyer,' said Damiana Dendy, a housing organizer with DC Jobs with Justice. 'These are tools that can be used to preserve affordability and it's been proven since it's been passed in 1980, it's been doing what it's supposed to be doing.' But, there could be changes to which buildings are eligible for TOPA. Last month, Mayor Muriel Bowser introduced the RENTAL Act, a comprehensive piece of legislation that aims to strengthen the city's housing market. The legislation includes various provisions, like returning the eviction process to pre-pandemic timelines, ensuring that landlords can collect rent. 'Because of the people who aren't paying rent we see an inability for property owners to invest in those properties, provide security, and long term, maintain ownership and affordability,' said Bowser. 'No longer in Ward 7 will this behavior be tolerated': Massive trash pile in Northeast DC cleaned up; investigations underway And while low and moderate income housing will still be eligible for TOPA, the proposed legislation would exempt market rate housing from triggering TOPA. 'What we are seeing is a lag of 18 months in order to go through the TOPA process,' explained Nina Albert, deputy mayor for planning and economic development. 'Market rate investors in residential real estate are making choices, and they're seeing that 18-month delay in selling the building and choosing not to invest in DC.' Still, tenant rights groups want to see eligibility expanded, not limited. Dendy led a rally outside the Wilson Building Tuesday calling on the city to preserve the program. 'Tenants should have the opportunity to negotiate with an incoming buyer, chose a buyer, go out looking for a buyer to ensure there are affordability requirements for the building, have rent protections, have protections against eviction,' she said. 'The reality is housing and rent prices keep going up and up,' said Christopher Williams, president of the Capitol Park Plaza and Twins Tenants Association. Williams said his building is currently going through the TOPA process and said it's an important bargaining tool for renters. '[The TOPA process is] an attempt to reset and work with the new owner and say, here are our expectations as tenants, and we want to listen to your expectations,' he explained. 'For those tenants associations like ours who want to exercise those rights because of past living conditions, those rights ought to be preserved.' Council must still consider and vote on the RENTAL Act. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
