18-304 Notice to tenants.(a) When an owner of rental housing decides to convert that housing to condominium or cooperative ownership, the owner shall give to each tenant the following minimum written notice to vacate or purchase the unit: Four (4) years to elderly and disabled tenants; two (2) years to all other tenants. The burden shall be on the tenant to prove that he or she qualifies as meeting the definition of "elderly" or "disabled" as defined in this article.
(b) The notice shall state that the rental housing is to be converted to condominium or cooperative ownership. It shall set forth generally the rights of tenants and certified tenant organizations under this article and the Vermont statute related to conversions (
27 V.S.A. section 1331 et seq.). The notice shall be given by certified mail, return receipt requested, at the address of the housing unit or any other mailing address provided by the tenant. A copy of the notice shall also be sent by regular mail to the address of the housing unit or any other mailing address provided by the tenant. Failure to give notice as required by this article and the Vermont statute is a defense to an action for possession.(c) During the notice period, a tenant may not be required to vacate except for a reason specified in subsection (a) or (b) of Section
4467 of Title 9 of Vermont Statutes Annotated.(d) During the notice period, rent increases shall be limited to an amount which reflects reasonable profits, actual increased costs of maintenance and operation of the housing unit subject to conversion. Costs associated with the proposed conversion are not a permissible basis for a rent increase.