Latest news with #HB1217
Yahoo
13-05-2025
- Business
- Yahoo
Washington governor signs rent control into law
This story was originally published on Multifamily Dive. To receive daily news and insights, subscribe to our free daily Multifamily Dive newsletter. Washington Gov. Bob Ferguson signed a bill on May 7 restricting rent increases in the state, joining California and Oregon as the third state, plus the District of Columbia, to institute rent control. HB 1217, in its final form, restricts rent increases for existing tenants in Washington state to 7% per year plus inflation or 10%, whichever is lower. Rents for new tenants may be adjusted to any amount, according to a news release from the governor's office. Rent increases for manufactured homes have been further limited to 5% per year. 'At a time of economic uncertainty, this common sense guardrail will protect working families and seniors from excessive rent hikes,' said State Senator Emily Alvarado, a Democrat representing West Seattle, who originally introduced the bill as a member of the House, in the release. The law exempts new construction for 12 years, as well as affordable housing managed by nonprofit organizations and public housing authorities, according to a news release from Alvarado. The caps are designed to sunset after 15 years, except for the 5% cap on manufactured home rents, which is permanent. Landlords must provide 90 days' minimum written notice of a rent increase. Introduced in January, the bill passed the House on March 10. In the Senate, the bill was amended to raise the rent cap to 10% plus inflation and to exempt single-family rental homes. These amendments were removed in a conference committee on April 27, and the final passage vote in the House was 54 to 44 with five Democrats joining the Republican opposition, according to AP. HB 1217 was part of a package of housing-focused bills signed by Ferguson in the same session. The others include: HB 1516, which creates additional insurance options for condominiums. HB 1757, which requires cities to create rules for multifamily conversions. SB 5184, which limits the number of parking spaces cities and counties can require for housing. SB 5313, which expands the items that are prohibited in residential rental agreements. SB 5529, which expands affordable housing tax incentives. SB 5611, which reduces housing permit timelines. 'Washington needs more affordable housing — a lot more,' Ferguson, a Democrat, said in his release. 'We must make it easier, faster and less expensive to build housing of all kinds. These bills will address this pressing need.' Washington's rent control legislation is the first to pass at the state level in six years, following California's and Oregon's rent control laws in 2019. Major municipalities with rent control include New York City, Los Angeles, San Francisco and St. Paul, Minnesota. St. Paul recently amended its existing rent control ordinance, creating a permanent exemption for any units that received a certificate of occupancy after Dec. 31, 2004, according to local news outlet KSTP. Multifamily groups, including the National Apartment Association and National Multifamily Housing Coalition, have long opposed rent control in any capacity, saying that the laws exacerbate housing shortages and lead to the deterioration of existing buildings. The Renton, Washington-based Washington Multi-Family Housing Association said that the law's signing was deeply disappointing and sends the wrong message to the state's housing providers. 'This bill adds new regulatory uncertainty at a time when the industry is already grappling with rising costs, labor shortages and shifting economic conditions,' the organization said in a statement shared with Multifamily Dive. 'Our members want to be part of the solution to Washington's housing crisis. But laws like HB 1217 make it harder to continue operating here, and harder to attract capital.' Jay Parsons, independent consultant and former chief economist at Richardson, Texas-based RealPage, noted that while most renewal rent increases are already in the 7% to 10% range, Washington's rent control law sets a precedent for future restrictions. 'We've seen this elsewhere in places like New York, [where] they've expanded or revised the rent control rules…four different times,' Parsons told Multifamily Dive before the law was signed. 'So I think that the precedent is going to likely lead some developers and investors to maybe not consider the state of Washington. Not everybody's going to do that, but I think there'll be others who'll say, 'We don't want to mess with it.' It definitely adds a lot of risks to future investments.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
07-05-2025
- Business
- Yahoo
‘Meaningful progress': Gov. Ferguson signs landmark bill to cap rent increases in Washington
This story was originally published on Washington Governor Bob Ferguson signed a bill Wednesday that set limits on rent increases—one of the first in the country. Rent stabilization bill, HB 1217, caps rent increases at 7% plus inflation, or 10%—whichever is lower. Washington now joins Oregon and California in drafting legislation that curbs climbing rent prices. 'There is no single policy that will fix our housing crisis, but we need this comprehensive approach,' Sen. Emily Alvarado said at the bill signing. Two amendments were added to HB 1217 by the Senate, changing the cap from a flat 7% to a choice of whatever is lower between a 7% raise with inflation or a flat 10%. The second amendment exempts single-family homes, which represent approximately 38% of Washington renters. 'Today we celebrate,' Rebekah Gardea, Director of Community Advocacy at QLaw Foundation, said at the bill signing. 'This is meaningful progress that is meaningful to people in the state.' The bill also bars landlords from raising rents during the first 12 months of a new tenancy. The rent-increase cap for manufactured and mobile homes stands at 5%. 'It's really an honor to sign this important legislation into law,' Ferguson said at the bill signing. How the bill passed in Senate, House of Representatives The Senate approved the final version on a 27-20 vote, with two Democrats joining Republicans in opposition. The House followed with a 54-44 vote, where five Democrats broke ranks. No Republicans voted in favor. 'This is one of the most productive sessions on housing affordability our state has seen,' Sen. Jessica Batman, D-Olympia, said in a statement. 'It's the result of strong coalition-building in and outside the Legislature, bipartisan collaboration with our Republican colleagues and sustained, long-term engagement with the community and our constituents who are so deeply affected by these issues. I'm proud of what we've accomplished so far this year and know that we have more work ahead.' Beginning June 1, 2025, the state Department of Commerce will be required to publish the allowable maximum rent increase annually, based on the Seattle-area Consumer Price Index. Landlords must also provide tenants with 90 days' notice before raising rent. Contributing: Julia Dallas, MyNorthwest Follow Frank Sumrall on X. Send news tips here.
Yahoo
07-05-2025
- Business
- Yahoo
Gov. Ferguson expected to sign bill capping rent increases today
This story was originally published on Governor Bob Ferguson is expected to sign a bill Wednesday that would set limits on rent increases—one of the first in the country if passed. If signed into law, the rent stabilization bill, HB 1217, would cap rent increases at 7% plus inflation, or 10%—whichever is lower. Washington would join Oregon and California in drafting legislation that curbs climbing rent prices. Two amendments were added to HB 1217 by the Senate, changing the cap from a flat 7% to a choice of whatever is lower between a 7% raise with inflation, or a flat 10%. The second amendment exempts single-family homes, which represent approximately 38% of Washington renters. The bill also bars landlords from raising rents during the first 12 months of a new tenancy. The rent-increase cap for manufactured and mobile homes stands at 5%. How the bill passed in Senate, House of Representatives The Senate approved the final version on a 27-20 vote, with two Democrats joining Republicans in opposition. The House followed with a 54-44 vote, where five Democrats broke ranks. No Republicans voted in favor. Beginning June 1, 2025, the state Department of Commerce will be required to publish the allowable maximum rent increase annually, based on the Seattle-area Consumer Price Index, if Ferguson signs the legislation. Landlords must also provide tenants with 90 days' notice before raising rent. Ferguson is expected to sign the legislation at 1 p.m. Wednesday. Follow Frank Sumrall on X. Send news tips here.
Yahoo
28-04-2025
- Business
- Yahoo
Washington Democrats push through rent cap bill after negotiations
Washington state lawmakers on Sunday passed a measure to cap annual rent increases, bringing a controversial legislative fight to a close on the final day of the 2025 session. But it's unclear if Governor Bob Ferguson will support the rent cap bill. House Bill 1217, the product of a late-session compromise between House and Senate Democrats, will cap rent hikes at 7% plus inflation, or 10%, whichever is lower. The bill also bars landlords from raising rents during the first 12 months of a new tenancy. Single-family homes are not exempt from the cap. The Senate approved the final version on a 27-20 vote, with two Democrats joining Republicans in opposition. The House followed with a 54-44 vote, where five Democrats broke ranks. No Republicans voted in favor. 'This is one of the most productive sessions on housing affordability our state has seen,' Sen. Jessica Batman (D-Olympia) said in a statement. 'It's the result of strong coalition-building in and outside the Legislature, bipartisan collaboration with our Republican colleagues and sustained, long-term engagement with the community and our constituents who are so deeply affected by these issues. I'm proud of what we've accomplished so far this year and know that we have more work ahead.' The bill's final version reflects weeks of negotiations. Originally, HB 1217 capped rent increases at 7% annually. A Senate amendment raised the limit to 10% plus inflation, but after concerns from House Democrats, a conference committee struck a compromise late Thursday. The legislation also establishes a 5% cap on rent increases for manufactured and mobile homes, with no expiration date. For most other residential properties, the rent cap is set to expire after 15 years unless renewed. Beginning June 1, 2025, the state Department of Commerce will be required to publish the allowable maximum rent increase annually, based on the Seattle-area Consumer Price Index. Landlords must also provide tenants 90 days' notice before raising rent. New construction is exempt from the cap for up to 12 years, as are properties owned by public housing authorities and certain nonprofit organizations. Some small, owner-occupied properties, such as duplexes or homes with accessory dwelling units, are also exempt. Republicans blasted the measure, arguing it addresses symptoms rather than causes. 'Without supply, rents go high,' Rep. Sam Low (R-Lake Stevens) said during floor debate. He urged colleagues to focus instead on removing regulations that he said drive up the cost and difficulty of building new housing.
Yahoo
25-04-2025
- Business
- Yahoo
WA lawmakers voting today on controversial rent bill
If you rent an apartment or a home, there could soon be big news for your wallet! State lawmakers are voting today on the controversial HB1217. This is the bill that would limit annual rent increases and fees. After months of changes, lawmakers are moving forward with a higher increase than advocates wanted. The bill shows that annually, rent can increase 7% plus inflation or 10% total, whichever is lower. It also caps manufactured home increases to 5% and limits annual fees. Renters tell us they are happy but disappointed in the bill, saying the increase cap headed to a vote is still too high, but it's better than no cap at all. Michele Thomas with the WA Low Income Housing Alliance said this has been a long journey. 'The bill has had a lot of ups and downs it's gone through a lot of steps and now the time to get it done,' Thomas said. During yesterday's committee meeting, lawmakers settled on what they are calling a compromise. The bill shows that annually, rent can increase seven percent plus inflation or ten percent total, whichever is lower. It also caps manufactured home increases to five percent and limits annual fees. Senator Jessica Bateman tells us this is a good plan. 'People struggling to afford their home deserve a bill that responds to their concerns and meets their needs, and this proposal steps up to provide Washingtonians the protections they deserve.' Thomas said this is not what they were hoping for. 'We have so many tenants across the state saying they cannot sustain another huge rent increase,' she said. Mollie lives in Seattle, they say rent is a huge financial burden. 'I definitely air on the side of paying less for less nice conditions like we have wood floors that are old we get splinters all the time,' Mollie said. This year, having to move again due to rent increases. Saying this bill isn't what renters wanted, but it's better than nothing. 'I wish lawmakers cared a little bit more about folks who are renting because if you're renting you can't afford to buy a house,' they said. Today the vote goes to the House and Senate. If it survives both rounds, that final version will head to the Governor's desk before Sunday's deadline. As this bill moves through the voting process, we will keep you updated.
