Washington bill to cap rent increases clears first Senate hurdle

The Washington Senate Housing Committee has taken a significant step by passing House Bill 1217, which seeks to cap annual residential rent increases at 7%. This proposed law is designed to provide tenants with greater predictability and protection against steep rent hikes, particularly during the first year of tenancy, where increases would be prohibited. Landlords would also be required to give a 90-day notice before implementing any rent increase, aiming to foster transparency. Critics, including some developers, warn that such regulations could inhibit housing supply and make it difficult for landlords to manage rising maintenance costs. Supporters, however, argue that the bill serves as a necessary safeguard for families grappling with the high costs of housing.

The committee has also introduced provisions for a 2045 expiration date and a ten-year impact analysis of the law's effects. With potential amendments on the horizon, including adjustments to the rent cap and exemption periods, the bill's future remains uncertain. The legislative session is set to adjourn on April 27, making timely passage essential.