How long does a tenant have to exercise their right of first refusal?

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Ali Faizan Syed · Accepted Answer

If a property is demolished and reconstructed, the original tenant has the right of first refusal to move back into the unit. To exercise this right, the tenant must notify the landlord of their intent within thirty (30) days of being informed by the landlord. The rent for the new property must be determined based on the fair market value criteria. This allows long-term residents to maintain their community ties while acknowledging the updated value of a newly reconstructed building.

How long does a tenant have to exercise their right of first refusal?

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Ali Faizan Syed