Compromise reached on Washington bill to cap rent increases

Washington Democrats have proposed a new limit on residential rent increases, capping them at 7% plus inflation or 10%, whichever is lower. This measure aims to offer stability to renters amid rising housing costs. The revised House Bill 1217 removes exemptions for single-family home rentals and shortens the new construction exemption from 15 years to 12. Lawmakers are expected to vote on the bill as soon as Friday evening, with the session scheduled to end Sunday. If both chambers pass the legislation and the governor signs it, the policy would go into effect immediately.

House Housing Committee Chair Strom Peterson remarked that this legislation could be life-changing for many families in Washington. Critics, including some Republicans, claim the cap could drive builders out of the state and exacerbate the housing crisis. The bill maintains provisions that prevent landlords from raising rents in the first year of a tenancy and allows litigation for violations.