TOPA: Protection or extortion?

"Last week, I had the privilege of attending my first D.C. Council meeting as part of a contingent of roughly 200 real estate agents, attorneys, tenant advocates and homeowners.

The topic: D.C.’s Tenant Opportunity to Purchase Act (TOPA) of 1980.
The premise of the Act was a noble one. In response to burgeoning gentrification within the District it gave a tenant the first right to purchase the home in which he resided upon being informed by the owner that it was being sold. Notification procedures, transparency requirements and lengthy deadlines would ensure the tenant would have sufficient time to negotiate a contract, obtain financing, and settle on the home.
Embedded in the law was a provision whereby the tenant could transfer her purchase rights to another individual if she chose. What began as an avenue for the tenant to secure a qualified buyer who would allow her to remain or receive a reasonable stipend from the seller to assist her in moving to a new location devolved into a “pay to play” situation..."

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