Provides that a notice of condominium conversion expressly states whether there is a county or city relocation assistance program for tenants or subtenants of conversion condominiums in the jurisdiction in which the property is located.

Provides that, if the county or city does have a relocation assistance program, the following must also be included in the notice: (1) A summary of the terms and conditions under which relocation assistance is paid; and

(2) Contact information for the city or county relocation assistance program, which must include, at a minimum, a telephone number of the city or county department that administers the relocation assistance program for conversion condominiums.

Provides that, at the declarant's option, the declarant may provide all tenants in a single building with an option to terminate their lease or rental agreements without cause or consequence after providing the declarant with thirty days' notice. In such case, tenants continue to have access to relocation assistance under this act.

Requires a declarant to pay relocation assistance in an amount to be determined by the city or county, which may not exceed a sum equal to three months of the tenant's or subtenant's rent at the time the conversion notice required under this act is received.

Provides that a declarant and any dealer shall not begin any construction, remodeling, or repairs to any interior portion of an occupied building that is to be converted to a condominium during the one hundred twenty-day notice period provided for in this act unless all residential tenants and residential subtenants who have elected not to purchase a unit and who are in lawful occupancy in the building have vacated the premises.

Provides that all cities and counties planning under RCW 36.70A.040, which have allowed any conversion condominiums within the jurisdiction within the previous twelve-month period, must include the following performance measure-related data in an annual report to the department of community, trade, and economic development: (1) The total number of apartment units converted into condominiums;

(2) The total number of conversion condominium projects;

(3)(a) The difference in the monthly rental housing cost of each former rental unit that is converted and (b) the monthly mortgage cost of the owner occupancy condominium to which it is converted or the expected monthly mortgage cost of the condominium to which it is in the process of being converted;

(4) The total number of apartment tenants affected by the conversion who elect to purchase a condominium within the development and income information for each of those tenants;

(5) The total number of apartment tenants who receive relocation assistance, the total amount of that assistance per tenant, and income information for all tenants who received relocation assistance;

(6) Income information for all tenants in units that were converted into condominiums; and

(7) The net change in the total number of rental housing units within the jurisdiction and the net change in the number of rental housing units affordable to low and very-low income households.

Takes effect August 1, 2008.

Does not apply to any conversion condominiums for which a notice required under RCW 64.34.440(1) has been delivered before the effective date of this act.