WA Senate raises proposed cap on rent increases, sending bill back to House

The Washington State Senate has taken significant steps towards approving a bill that would increase the cap on annual residential rent hikes from 7% to 10% plus inflation. This decision, made with a slim majority, has ignited a debate among Democrats as the bill returns to the House for reconsideration. Senator Sharon Shewmake argued that a 7% cap could lead to a decrease in rental supply, highlighting concerns about market stability. Meanwhile, Michele Thomas from the Washington Low Income Housing Alliance criticized the Senate's amendments, urging the House to restore the original cap to protect renters. The bill now mandates landlords provide a 90-day written notice before rent increases, but allows them to set initial rents freely.

Additionally, exemptions for single-family home rentals not owned by large companies were introduced. With the legislative session approaching its conclusion, the House faces pressure to decide on the amendments. If signed by Governor Bob Ferguson, this legislation would represent a significant shift in Washington's rental market regulations.