The "Keep Montanans Housed Act" establishes a right of first refusal for tenants regarding the purchase of rental properties. Under this act, landlords must provide tenants with the opportunity to buy their rented dwelling units or the premises before selling or issuing a notice to vacate for reasons such as demolition or repurposing. The landlord is required to present a bona fide offer of sale, which must be delivered to the tenant through hand delivery, electronic transmission, or certified mail. The offer must reflect a price comparable to market value or the appraised value, and tenants have 45 days to accept the offer or challenge its validity.

If a tenant rejects the offer or does not respond within the specified timeframe, the landlord may proceed with the sale to a third party under the same terms as the original offer. The act includes provisions for codification within Title 70, chapter 24, part 1 of the Montana Code, and is set to take effect on July 1, 2025.