Latest news with #WashingtonLowIncomeHousingAlliance
Axios
07-05-2025
- Business
- Axios
Washington is now third U.S. state with a rent cap
Washington Gov. Bob Ferguson signed a measure into law Wednesday limiting annual rent increases to no more than 10% per year for many tenants statewide. Why it matters: With the signing of House Bill 1217, Washington becomes the third state in the nation to enact a state-level rent stabilization law, after Oregon and California, according to advocacy groups who track such measures. What's inside: Washington's rent-capping law, which takes effect immediately, will allow landlords to raise rent prices for most existing tenants by a maximum of 7% a year plus the rate of inflation or 10% — whichever is lower. The rent cap wouldn't apply to buildings that opened in the past 12 years or certain owner-occupied buildings, such as a triplex where the owner lives in one of the units. Landlords can reset rent at any level when a tenant moves out — a feature supporters say distinguishes the policy from stricter types of rent control imposed in some local jurisdictions, including New York City. What they're saying: Under the new state law, "the days of gouging renters with massive rent increases are over," Michele Thomas of the Washington Low Income Housing Alliance told Axios. "However, rents are still too high and there's a lot more work we need to do," Thomas said. The other side: Groups including the Rental Housing Association of Washington — which represents landlords — opposed the new law, arguing it would discourage new housing construction and reduce the number of rental units on the market. "This bill threatens housing availability and affordability, exacerbating the existing crisis," opponents wrote in a letter asking Ferguson to veto the measure. Catch up quick: In 2019, Oregon became the first state to enact statewide limits on rent hikes, capping annual increases at 7% plus the rate of inflation. Oregon lawmakers later amended the policy to allow a maximum annual rent hike of 10%, similar to what Washington just adopted. California's rent stabilization law, which took effect in 2020, caps annual rent increases at 5% plus inflation or 10%, whichever is lower. The fine print: The new Washington law also sets a stricter 5% annual cap on rent hikes for residents of manufactured and mobile homes.
Yahoo
15-03-2025
- Business
- Yahoo
Hundreds rally at state capitol for rent control bill
Hundreds of people rallied outside the state Capitol Friday in support of a bill that would place limits on annual rent increases. House Bill 1217 passed in the Washington state House a few days ago and has moved into the state Senate. If passed, the bill would cap annual rent increases at 7% and bar any rent increase during a tenant's first year. It does include several exemptions, including for residential construction that's less than 12 years old. Tenants who came to the rally Friday said rising rents are crushing them. 'The new owners raised the rent $150,' said Caroline Hardy, an Aberdeen resident who lives at a mobile home park. 'The next year, it went up $110.' Hardy said she and most of her neighbors are senior citizens on fixed incomes. 'It's looking like a lot of us are going to end up homeless,' she said. Supporters of the bill, including the Washington Low Income Housing Alliance, say the rent cap would still allow landlords to make a profit and pay for maintenance costs, while bringing stability to renters' lives. Critics, like Washington's Republican Party Chairman Rep. Jim Walsh, argue it would hurt housing development in a time when the state desperately needs more housing units. 'If you control rent, you take away the financial incentive to build more housing units,' Walsh said. Walsh said making it easier for developers to build more units would resolve the scarcity problem. 'Rent control will not make more housing,' he said. 'All it does is try to fix the costs of the existing inventory.' A state report found more than half of Washington renters were rent burdened in 2023, meaning they paid at least 30% of their income to their rent. Among Washington's largest cities, rents remain highest in Seattle ($2,000), according to Zillow Rental Data. Rents were cheapest, among large cities, in Tacoma ($1,650). Rent increased over the last year in Seattle, Everett, and Tacoma (up the most, based on dollar amounts), according to Zillow. Rent dropped sharply in Olympia, down $200 on average, compared to a year ago. You can follow the bill's progress here. A similar companion bill is also moving forward in the state senate.
