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Notice to Lessor Exercising Option to Purchase - District of Columbia

Notice to Lessor Exercising Option to Purchase - District of Columbia 2025

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This document is a formal notice from the lessee to the lessor, indicating the lessee's intention to exercise their option to purchase the leased premises as per the Lease Agreement. It includes details about the purchase price and any required down payment.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What salary is considered low income in DC?

The DC Metro AMI has increased by about 7% over last year. The 2023 median income is $152,100 for a family of four, and $106,500 for a single person household. Low Income by HUD for the DC Metro in 2023 is anything up to $95,300 for a family of four, and anything up to $66,750 for a single person.

How does topa work in DC?

The District Of Columbia Local Rent Subsidy Program (LRSP) provides ongoing rental subsidies to help make housing more affordable to extremely low-income families those with incomes equal to or below thirty percent of area median income.

Do tenants have the right to buy in DC?

District law states that tenants in buildings up for sale must be offered the first opportunity to buy the building (DC Law 3-86, the Rental Housing Conversion and Sale Act of 1980,under which falls the Tenant Opportunity to Purchase Act (TOPA))/ The District encourages tenants to exercise this rightit stabilizes

What is dopa in DC?

The District Opportunity to Purchase Act (DOPA) is an affordable housing preservation tool that gives the Mayor the authority to purchase certain apartment buildings in order to: (1) maintain existing rental affordable units for tenants; and (2) increase the total number of affordable rental units within the District.

What must the DC landlord of a rental property provide to a tenant prior to selling?

(a) Before an owner of a housing accommodation may sell the housing accommodation or issue a notice to vacate for purposes of demolition or discontinuance of housing use, the owner shall give the tenant an opportunity to purchase the housing accommodation at a price and terms that represent a bona fide offer of sale.

What is the local rent subsidy program in DC?

Eligibility. Your household must meet the income requirements. Households that make 50%, 60%, or 80% of the Median Family Income (MFI) may be eligible for IZ units and households that make 30%, 100% or 120% of the MFI may still be eligible for other non-IZ affordable units.

Notice to Lessor Exercising Option to Purchase - District of Columbia 2025

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