Residential Rental Unit Conversion Moratorium and Tenants Assistance Act

Summary

Residential Rental Unit Conversion Moratorium and Tenants Assistance Act - Prohibits the use of federally related mortgage loans, any other form of Federal assistance, any means of transportation or communication in interstate commerce, or the mails for the conversion of residential rental units to residential units offered for sale during the three-year period following the enactment of this Act, unless such units are to be converted for purchase pursuant to an offer by a bona fide tenants' organization. Authorizes the Secretary of Housing and Urban Development to make grants to local governments to assist them in developing local assistance programs for persons adversely affected by: (1) the conversion of their residential rental units to residential units offered for sale; or (2) local multifamily rental unit vacancy rates of four percent or less. Authorizes appropriations for such grants for FY 1985 through 1987. Requires the Secretary to establish a Commission on the Conversion of Residential Rental Units to study and report to Congress on the problems resulting from the conversion of residential rental units to residential units offered for sale.

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1 official file

• Introduced in House

  summary · EN · 27 September 1983

  Open at official source

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