The usual suspects (the San Francisco Apartment Association) have sued to block San Francisco’s new tenant buyout legislation. The law has been in effect since March 7, 2015 and is still in effect, pending the outcome of this challenge.
The tenant buyout law requires landlords to inform tenants of their tenant rights prior to initiating buyouts negotiations. The law also gives a tenant the right to rescind the buyout within 45 days. The landlord must file a copy of the buyout agreement at the San Francisco Rent Board and must disclose the amount of the buyout.
Perhaps more importantly, the law restricts condo conversion of buildings in which a senior or disabled tenant has accepted a buyout. This restriction was already in place for certain evictions of senior or disabled tenants.
The text of the buyout legislation can be found on the San Francisco Rent Board’s website here.
The Rent Board’s summary of the law can be found here.