CA AB1703

Requires property owners to notify tenants and qualified organizations before selling residential rental property, giving qualified organizations 10 days to express interest and 40-60 days to submit purchase offers depending on property size.

Exempts certain transfers including family transfers, court-ordered transfers, eminent domain, properties with regulatory agreements restricting rents to low-income households, government-owned properties, and owner-occupied single-family homes.

Requires qualified organizations that purchase property to maintain existing tenancies, restrict rents to affordable levels for households at 80% of area median income, and offer tenants or resident organizations the opportunity to purchase within 18 months.

Allows property owners to reject qualified organization offers but grants rejected organizations 10 days to match any subsequent offer from other buyers, or 80 days if they were not initially notified.

Requires sellers to record a certification of compliance under penalty of perjury at time of sale and authorizes the Department of Housing and Community Development to maintain a registry of qualified organizations; provisions expire January 1, 2023.