Minneapolis file 2026-00206, before the Minneapolis City Council. Still to be decided as of 2026-03-03.
Latest action: Referred to staff by Committee of the Whole
Tenants can match outside offers to buy their building When a landlord sells a rental property, current tenants and qualified community developers can make a competing offer at the same price before the sale closes.
May slow investor buying and shift ownership to residents If tenants and community groups exercise this right frequently, it could reduce the number of rental buildings bought by outside investors and increase community control of housing stock.
Tenants must find financing and match the buyer's offer The law gives tenants a right to make a competing offer, but they still need bank approval and enough money to match what an investor is willing to pay, which many may not have.
Passage of Ordinance amendingTitle 12 of the Minneapolis Code of Ordinances relating to Housing, creating a new Chapter 246 entitled Tenant Protections and adding thereto provisions creating a right of first refusal and/or opportunity to purchase for tenants and qualified developers to the sale of rental housing.
Read the official record for 2026-00206
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