Tenant Opportunity to Purchase Program

The City of Takoma Park has funding available to help renters in apartment buildings purchase their building. The funding is available to buildings that have an active tenant association. The City can connect you with a group of experts to evaluate if you and your fellow tenants can purchase your apartment building. In some cases, funding may be available to assist you with purchasing your building!

Here’s how you can take advantage of this program:

1. Form a Tenant Association. If you do not have a current tenant association, you will need to form one. You can find out more regarding this on our website or by reaching out to the City’s Housing Division through email at housing@takomaparkmd.gov or by phone at (301) 891-7119.

Please note that you will need 1/3 of the occupied units in the building to agree to form a tenant association and that you will need to install officers to run and represent the association.

2. See if your landlord is interested in selling their property. Reach out to your landlord to understand if they are willing to sell their building to their tenants. City staff can assist you in reaching out to your landlord (You can email the staff at housing@takomaparkmd.gov or call the staff at (301) 891-7119) If the building is currently in the process of being sold, please reach out to City Staff as soon as possible so we can work with you.

3. Apply for an assistance award. You can apply to get awarded a grant from the City to work with a non-profit who can assist you with identifying loans you can receive, connect you with bankers, and help with drawing up a contract to buy the building. You will need to have some documentation of the landlord’s interest to sell. The application can be found at https://tinyurl.com/ykpyjp92  and you can email our staff with any questions at housing@takomaparkmd.gov or by calling (301) 891-7119.

Questions? Feel free to reach out to the Department of Housing and Community Development. 

• You can email us at housing@takomaparkmd.gov,
• Call us at (301) 891 7119,
• or visit us on the 3rd floor of the Community Center
  Located at 7500 Maple Avenue, Takoma Park, MD 20912.