Rent increase cap proposal heads to Washington governor

[Yo_Mama_Been_Loggin]

Washington is poised to limit annual residential rent increases with legislation now headed to the governor’s desk.

The House and Senate on Sunday, the last day of the legislative session, passed the rent increase limit at 7% plus inflation or 10%, whichever is lower. Landlords could still set rent however they please when a tenancy begins.

Rent increases for manufactured homes are limited to 5% under House Bill 1217. While the rent cap policy on traditional homes would expire after 15 years, the manufactured home rule wouldn’t lapse.

The final version was a compromise after moderate Democrats in the Senate wouldn’t go along with the initial 7% cap, without inflation, the House had approved.

https://washingtonstatestandard.com/briefs/rent-increase-cap-proposal-heads-to-wa-governor/

[KT2000]

1. This could make it less desirable

for investment companies to buy up rentals. Yay!

[MichMan]

2. Or make it more likely for current landlords to sell to them