Rent increase cap approved by Washington House

The Washington state House has passed House Bill 1217, a bill designed to cap annual rent increases at 7%, after a contentious debate highlighting differing views on housing stability and market health. The legislation requires landlords to provide 90 days' notice for any rent hikes and restricts them from charging more than a 5% difference in rent between similar units. Advocates for the bill, such as Rep. Nicole Macri, argue that it is a balanced approach to offer predictability for renters, particularly in light of rising rents that have left many vulnerable to homelessness. In contrast, critics, including several Republican representatives, express concerns that the bill will negatively impact small landlords and hinder the construction of new housing.

The bill features several exemptions, including for certain nonprofit-operated buildings and units where the owner resides. Now moving to the Senate, the bill has a better chance of passing due to a strengthened Democratic caucus. As the housing crisis continues to escalate, this legislation aims to address the urgent need for affordable housing solutions while balancing the interests of landlords. The outcome in the Senate will be closely watched as it could set a precedent for future housing policies in Washington state.