District of Columbia Code Division VII. Property. § 42-3404. d. Qualified purchaser.

(1) The capacity to acquire, own, manage, and improve or redevelop, either independently or through an agent, housing accommodations and related facilities acquired under this subchapter or subchapter IV-A for the remaining useful life of the housing accommodation;

(2) For entities that own rental accommodations in the District or are subject to a controlling interest by an entity that also has a controlling interest in rental accommodations in the District, a history of responsible stewardship of rental accommodations without unabated serious violations of the housing code;  and

(3) Understanding of, and ability to comply with, the requirements of this subchapter.

(c)(1) The Mayor shall solicit and accept new applications for qualified purchasers on a rolling basis.

(2) The Mayor shall recruit and solicit applications from reputable parties that have not previously conducted real estate transactions in the District.

(e)(1) A qualified purchaser shall be in compliance with the entity filing requirements as prescribed in § 29-102.01.

(2) A qualified purchaser shall not act in a manner that is adverse to the interests of tenants occupying a property subject to this subchapter.  The Mayor shall promptly investigate any complaint alleging that a qualified purchaser has a conflict of interest or has failed to comply with the requirements of this subchapter.  If the Mayor determines that a qualified purchaser has a conflict of interest or has failed to comply with the requirements of this subchapter, the Mayor may limit, suspend, or revoke that qualified purchaser's certification.