Brussels Tenants Gain Right of First Refusal in Property Sales

The Brussels government has recently introduced a significant measure granting tenants the right of first refusal when the property they are renting is up for sale. This "right of first refusal" allows tenants to have priority in purchasing the property they live in when it is offered for sale. The initiative aims to make homeownership more accessible to tenants and provide them with greater stability in the real estate market.

Conditions for the Right of First Refusal

However, this right does not apply to every tenant. It is only valid for properties that meet specific conditions. The property must be unfurnished, and the tenant must have a long-term rental agreement as their main residence. Additionally, the tenant must be officially registered (domiciled) at the address of the property. This means that short-term rentals, such as vacation homes or student accommodations, are excluded from this right.

Furthermore, the right of first refusal does not apply in certain situations, such as the sale of property as part of a company merger or liquidation, or when the sale involves specific legal ownership rights such as usufruct or naked ownership.

How Does the Right of First Refusal Work?

When a property owner decides to sell, they must first notify their tenant in writing, via registered mail with confirmation of receipt. Notaries and real estate agents are also required to ensure the tenant is informed of the sale.

The tenant is then given 30 days to respond to the offer. If the tenant rejects the offer or fails to respond within the specified time, the property owner is free to sell the property to another buyer. However, if the property is later offered to another buyer at a lower price or under more favorable conditions, the owner must notify the tenant. In that case, the tenant has an additional 6 days to exercise their right of first refusal and purchase the property under the new terms.

What Happens in Case of Non-Compliance?

If the property owner fails to comply with the rules and does not properly notify the tenant about the sale, the tenant has up to one year to reverse the sale. This means the tenant can still purchase the property, even after the sale has taken place, as long as they were not given the opportunity to exercise their right of first refusal.

Conclusion

The right of first refusal for tenants is a significant step towards providing greater security for renters in the Brussels real estate market. It allows tenants the opportunity to have priority when the property they are renting is sold, offering them the chance to secure homeownership and potentially purchase their dream home. While there are strict conditions and procedures that both tenants and landlords must follow, this measure provides tenants with a valuable opportunity to become active participants in the real estate market.