SPOKANE, Wash. — Washington lawmakers have discussed a bill around rent stabilization that would cap rent increases at 5% a year and also place limits on fees charged by landlords.
Conversations revolving around rent stabilization have been stirring with lawmakers and legislation for a while. A similar proposal was introduced last year but failed in the Legislature.
This proposal would help cap rent increases at 5% a year for residential tenants, a six-month notice for large jumps in rent and offer protections for tenants with month-to-month leases.
Here are specific details and progress regarding House Bill 2114:
Cap rent and fee increases at 5% for a 12-month periodProhibit rent and fee increased during the first year of tenancyRequire six month notice from landlord to tenants before a 3% or more increase in rentResidents notified of 3% or more rent increase have the right to move out without penaltyAfter tenant moves out, landlord has authority to reset rent as they wishCap late fees for rent payments at 410 per monthMove-in fees must be no more than one month’s worth of rentProhibits landlords from having different rent prices and fees for month-to-month leases compared to fixed-term leasesFinally, requires the Department of Commerce to create an online landlord resource center and calls for the Attorney General’s Office to publish model lease provisions for rent and fee increases
As rent and cost of living increase around the country and in the state of Washington, supporters believe that this new law is essential for keeping people in their homes.
The House and the Senate had hearings this week regarding the proposal. Now, the House version has been scheduled for a committee hearing on Jan. 16.
For more information about this proposal, go to the Washington State Legislature website.
