AB 919 Summary

• Requires property owners to notify tenants and registered qualified entities (nonprofits, community land trusts, resident organizations, etc.) before selling residential rental properties, giving qualified entities 10 days to express interest and 40-60 days to submit offers depending on unit count.

• Mandates that qualified entities purchasing properties retain existing tenancies, restrict rents to 80% of area median income, and provide tenants or resident organizations an 18-month opportunity to purchase the property or improvements.

• Grants rejected qualified entity bidders a right of first refusal to match subsequent offers from non-qualified buyers within 10 days, or 80 days if they were not initially notified by the owner.

• Requires the Department of Housing and Community Development to maintain a registry of qualified entities and exempts certain transfers including family transactions, court-ordered sales, and owner-occupied single-family homes.

• Establishes penalties including infraction fines up to $1,000 per unit per day for failure to file certification of compliance, and allows private enforcement with damages and attorney's fees for violations.