The Tenant Opportunity to Purchase Act aims to empower tenants and nonprofits to buy rental properties before they hit the market, aiming to prevent displacement.
Councilmember Lunaparra argues that the ordinance is a crucial piece of the puzzle to address Berkeley's housing crisis, advocating for preservation of affordable living.
Opponents, like Krista Gulbransen from the Berkeley Property Owners Association, warn the legislation could slow down sales and infringe on landlords' transaction rights.
The proposed policy mandates landlords to notify tenants and nonprofits about potential sales, allowing a window for tenants to express their buying interest.
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