TENANTS-RIGHT OF FIRST REFUSAL

Creates the Multi-Unit Residential Rental Property Right of First Refusal Act. Requires the owner of a multi-unit residential rental property that offers the property for sale to provide written notice to each tenant and the tenants' association offering the tenants' association an opportunity to purchase the property at a price and terms that represent a bona fide offer of sale. Exempts property governed by the Condominium Property Act. Provides that the tenants, by and through the tenants' ass…