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The Tenant Opportunity to Purchase Act, or TOPA, affords tenants unique rights in the District of Columbia. Familiarize yourself with them whether you're a buyer or seller. The home owner and landlord must comply with all TOPA laws and provide tenants with appropriate disclosures when applicable.
The District Opportunity to Purchase Act (DOPA) is an affordable housing preservation tool that gives the Mayor the authority to purchase certain apartment buildings in order to: (1) maintain existing rental affordable units for tenants; and (2) increase the total number of affordable rental units within the District.
Tenant Opportunity to Purchase Act (TOPA)
Rent Control Laws in D.C. Washington D.C.'s rent control laws generally limit rental increases to once per year, based on the increase of the Consumer Price Index (CPI-W). Specifically, the maximum allowable rent increase is 2% more than the CPI-W percentage not to exceed 10%.
Interjection. topa. cheers (toast when drinking alcohol)
Washington D.C. landlord-tenant laws are considered Landlord-friendly. There are 705,749 residents in Washington D.C. Average rent is $1,499 and 58% of residents are renter occupied.
District of Columbia's Tenant Opportunity to Purchase Act (TOPA) The Washington D.C. act is the intellectual ancestor of H. 3017 and similar proposals. It aims to prevent displacement by giving residents notice and right to purchase the building they rent prior to its sale.
Washington DC's TOPA Act Washington's program is called TOPA the Tenant's Opportunity to Purchase Act. TOPA generally grants tenants a grace period and right of first refusal to purchase their building if it is to be sold.
If you have been involved in real estate in the DC metro area you have likely come across the DC Tenant Opportunity to Purchase Act. But did you know that Takoma Park, Maryland also has a Tenant Opportunity to Purchase Act (TOPA)?