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San Francisco Tenant Buyout Attorneys

San Francisco Tenant Buyout Attorneys

San Francisco Tenant Buyout Attorneys

In 2021, there were 391 legally recorded tenant buyout agreements in San Francisco. This was more than the 333 buyouts recorded in 2020.

If you live in a rent-controlled home in San Francisco, it is possible that your landlord will approach you with a tenant buyout proposal. Through a tenant buyout, a landlord can re-rent the unit out for a higher price than they are able to charge you under the Rent Ordinance, move in or sell it.

It is important for tenants to seek legal counsel when considering a tenant buyout. Always speak with a San Francisco tenant buyout attorney before accepting one or negotiating terms. The attorneys at Wolford Wayne LLP can help you understand your rights and ensure you are getting the best possible deal should a buyout be right for you.

What Is a Tenant Buyout?

A tenant buyout is a voluntary agreement between a landlord and a tenant wherein a landlord agrees to pay a tenant a lump sum of cash or other consideration in exchange for permanently vacating the property. Buyouts occur predominantly in cities with rent and eviction control because landlords are heavily restricted on their ability to force tenants to move or to raise their rent.

How Much is My Buyout Worth?

We get asked this all the time and the annoying answer is: your tenant buyout is worth what you are willing to accept, and your landlord is willing to pay. Every tenancy and property is different. Different risks, different options and different people. At Wolford Wayne our job is to help you understand the different factors that impact your buyout negotiation and to help you negotiate the best deal possible. Sometimes the best buyout is the one you don’t take!

Tenant buyouts are highly nuanced and we recommend you never negotiate a buyout without a tenant lawyer on your side.

My Landlord Wants to Meet with Me to Talk About the Buyout – Should I?

We do not typically recommend meeting with your landlord. Often this is a tactic to put pressure on you to take a lesser offer. As soon as you have been approached about a potential buyout, we recommend contacting a lawyer to discuss representation in negotiations.

My Landlord recommends we “keep lawyers out of it”

Often landlords will suggest keeping things casual by not involving attorneys. In reality landlords will often have attorneys assisting them in the background and do this in an effort to keep you from hiring your own attorney.

Will My Landlord Evict Me if We Don’t Reach a Deal?

It depends. Sometimes, a landlord might suggest that they have grounds for an eviction, but that they will not pursue an eviction if the tenant accepts a buyout deal. Never assume your landlord has proper grounds for an eviction without having our attorneys evaluate your circumstances. Your landlord cannot retaliate against you if you refuse to accept a tenant buyout.

Tenant Rights During a Potential Buyout

Tenants have rights regarding tenant buyouts. Under the San Francisco Ordinance, a tenant has the following rights:

  • A tenant has the right not to enter a buyout agreement
  • A tenant may rescind / back out of a buyout agreement within 45 days of signing
  • A tenant has the right to know who represents the landlord during the buyout negotiations (including full names).
  • A tenant has the right to choose to first consult with a San Francisco tenant’s rights lawyer before negotiating a buyout agreement with a landlord.
  • A tenant has the right to learn more about other buyout agreements in their neighborhood by visiting the San Francisco Rent Board.

Speak with a San Fransisco Tenant Buyout Attorney Today to Discuss Your Options

Tenant buyouts can be complex and difficult to navigate. If you have been offered a tenant buyout, you should first speak with a San Francisco tenant attorney. The attorneys at Wolford Wayne LLP handle tenant buyouts and have the experience you need to ensure you make the right decision based on your circumstances. You can contact us here if you’re ready to seek guidance during a tenant buyout situation.

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For more information or to discuss your legal situation, call us today at (415) 649-6203 for a phone consultation or submit an inquiry below. Please note our firm can only assist tenants residing in San Francisco, Oakland & Berkeley.

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