The Affordable Housing Building Sale Ordinance, Chapter 244, Article XVIII, requires owners who intend to sell an affordable housing building to notify the City of Minneapolis and to conspicuously post a notice of potential sale in the common area of the building. This ordinance is currently in effect as of April 1, 2019. Whenever ownership of an affordable housing building is transferred or conveyed to a new owner, the new owner must deliver written notice to each affordable housing renter of the building that the property is under new ownership and provide the following information to renters:
- What do affordable buildings mean?
Affordable housing building means a multiple-family rental housing building having five (5) or more dwelling units where at least twenty (20) percent of the units rent for an amount that is affordable to households at or below 60% of Area Median Income (AMI), as most recently determined by the United States Department of Housing and Urban Development.
- How do I know if I am renting a unit considered affordable?
Affordable rental units are considered affordable to households at or below 60% of Area Median Income (AMI), as most recently determined by the United States Department of Housing and Urban Development. The property owner may need to refer to the websites of these agencies to obtain the most current information. Updated rent tables are also available on our 4d Affordable Housing Incentive Program page.
- How does the City find out about the intent to sell?
Current owners are required to submit a notice of intent to sell to the City of Minneapolis.
Post-Sale Tenant Protections FAQ’s
Am I entitled to any protections after the sale of my building?
If you are a renter in a unit considered affordable, you may be entitled to:
- relocation assistance from the new owner if they terminate or do not renew your rental agreement without cause within the three (3) month renter protection period, commencing with the transfer of ownership.
- relocation assistance from the new owner if you terminate your rental agreement because the new owner raises your rent or initiates a renter rescreening process within the three (3) month renter protection period, commencing with the transfer of ownership.
What is relocation assistance?
Relocation assistance refers to a set payment equal to three (3) months of the current monthly contract rent designed to reimburse for expenses related to moving. The payment is due no later than the day upon which the renter vacates the unit.
What if I need more information?
You may dial 311 and reference Minneapolis Code of Ordinances, Chapter 244, ARTICLE XVIII. – AFFORDABLE HOUSING BUILDING SALE ORDINANCE. You may also contact Home Line at 612-728-5767 for free legal advice.