It allows landlords a way to go out of business without selling the property they own.
It's often used to evict tenants who live in units that are regulated.
SF requires a compensation of $5,153 to $18,000 per tenant evicted.
NYC requires that tenants not be evicted unless they have violated provisions of their lease. If the landlord wants a tenant to move out, they can _buy_ the tenant out, at a price the tenant agrees to. If they want to stop being a landlord, they have to sell the building to someone who is willing to be a landlord. This effectively prevents tenants from being screwed with their pants down by their landlords.
Occasionally an asshole landlord will go through one of their buildings while the tenants are away and, say, rip up all the floors. As a nasty way to try and get their tenants to move out so they can renovate and flip the building.
But those guys typically end up in jail.
The reason it tends to work out fine in other places, is because other places are sane about allowing developers to build new units. SF ... not so much.
I am confused. Is the landlord evicting them in the middle of their lease. Example: Landlord signs year long lease with tenant and then evicts tenant mid lease to sell property or are they not renewing the lease at the end of the year when lease contract expires.
It's often used to evict tenants who live in units that are regulated.
SF requires a compensation of $5,153 to $18,000 per tenant evicted.
NYC requires that tenants not be evicted unless they have violated provisions of their lease. If the landlord wants a tenant to move out, they can _buy_ the tenant out, at a price the tenant agrees to. If they want to stop being a landlord, they have to sell the building to someone who is willing to be a landlord. This effectively prevents tenants from being screwed with their pants down by their landlords.
Occasionally an asshole landlord will go through one of their buildings while the tenants are away and, say, rip up all the floors. As a nasty way to try and get their tenants to move out so they can renovate and flip the building.
But those guys typically end up in jail.
The reason it tends to work out fine in other places, is because other places are sane about allowing developers to build new units. SF ... not so much.