Fate of bill to cap rent increases now rests on fine-tuning in Washington Senate - My Edmonds News

In Washington State, a contentious bill to cap residential rent increases at 7% annually is under review by the Senate, with revisions deemed essential for its passage. Senate Majority Leader Jamie Pedersen highlighted the need for further refinements during a recent press conference, emphasizing the importance of addressing concerns from skeptical members. House Bill 1217, which prohibits landlords from raising rents beyond the specified cap, passed the House with a narrow 53-42 vote, despite opposition from some Democrats and nearly all Republicans. Amendments made in the House to adjust move-in and late fees are seen as potential enhancements to the bill’s acceptance in the Senate. Pedersen suggested that changes could include modifying the cap percentage or extending the exemption period for new constructions, which currently stands at 12 years.

The possibility of allowing landlords to “bank” unutilized rent increase capacity for future years has also been proposed. With the backing of at least 18 Senate Democrats, the focus now shifts to garnering the support of at least seven additional members needed to pass the legislation. The outcome is particularly significant given last year's failure of a similar bill, creating renewed hope among proponents for successful rent stabilization this session.