Boston renters facing displacement by condo conversions will continue to be protected.

Mayor Thomas M. Menino announced that the Boston City Council has passed an ordinance that extends existing protections provided to tenants facing displacement by condominium or cooperative conversion.

The new ordinance, which extends the provisions for renters by five years from Dec. 31, 2009 to Dec. 31, 2014, was originally proposed by Menino in 1999, and was extended once previously in 2004, according to a statement.

"This ordinance is so important because of the protections it provides to residents of our city," Menino said. "The continued rental housing crisis along with a rise in the number of condo conversions makes it more important than ever to renew our commitment to protecting tenants. This ordinance gives additional protections to our vulnerable elderly and disabled residents who may be facing high rents on a fixed income."

Among the protections for tenants granted in the ordinance are: a year-long advance notice period prior to eviction for condominium conversion, opportunities for a tenant to purchase their unit upon conversion, and relocation assistance and compensation. The ordinance also provides additional protections for elderly, handicapped, and low- to middle-income tenants, including longer notice periods and higher relocation benefits.

Between fiscal 2004 and fiscal 2009, condo conversions consisting of four or more unit buildings increased by nearly 150 percent. During this same time period, median rents for a two-bedroom unit in Boston have increased by 34 percent, according to data from the city’s assessing department.

Data from the Census Bureau’s American Community Survey shows that close to 50 percent of Boston’s renter households are considered "rent burdened," some paying as much as 50 percent of their household income on rent each month.