What are the requirements if I want to “withdraw” my property from the residential rental market?

The table below summarizes the requirements for landlords to withdraw their property from the residential market. 

Activity

Timeline

Citations

Notice of intent to withdraw is provided to tenants. PMC Section 6.60.070(A)
(1)
A copy of the withdrawal notice is delivered to the City Housing Manager. Within 10 days of delivery of notice to tenants PMC Section 6.60.070(A)
(2)
Owner must record summary memorandum encumbering the property for 10 years. Within 14 days of delivery of notice to City Housing Manager PMC Section 6.60.070(A)
(3)
Owner must deliver a conformed copy of the recorded summary memorandum to City Housing Manager. Within 60 days of delivery of notice to City Housing Manager PMC Section 6.60.070(A)
(3)
Earliest effective date of withdrawal of a building from the residential rental market. 120 days from delivery of notice to the City Housing Manager or one year from delivery of notice if the tenant household has a tenant 62 years or older or who is disabled. The withdrawal cannot occur during the school year if the tenant household has a child under 18 or an educator. PMC Section 6.60.070(A)
(1) & 6.60.050(E)
Owner must pay tenant relocation assistance of 100% of a month’s rent and an additional 50% if the tenant is a “Low Income,” tenant, is disabled, elderly, has a child, or been under lease since 2010. Within 14 days of withdrawal PMC Section 6.60.080
Owner must notify City Housing Manager and former tenants of intent to return unit to residential rental market; and
tenant displaced by withdrawal has right of first refusal to return to the unit under the original lease terms. The displaced tenant and the City can sue for exemplary damages.
Within 2 years of withdrawal PMC Section 6.60.090(A)-(B)
If the rental unit is returned to the rental market within 5 years of the withdrawal date,  the displaced tenant has a right of first refusal to return to the unit at a rent the that does not exceed the lawful rent at the time the unit was withdrawn, subject to allowable adjustments under the Tenant Protection Act. Within 5 years of withdrawal PMC Section 6.60.090(A)
Owner must notify the City Housing Manager of intent to return the unit to the residential rental market; and
The displaced tenant has a right of first refusal to return to the unit.
Within 10 years of withdrawal PMC Section 6.60.090(A) & (C)

 

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