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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.
Yahoo
27-02-2025
- Business
- Yahoo
WA bill putting limits on rent increases advances in state Senate
Washington state lawmakers are moving forward on a bill looking to limit how much landlords can raise rents each year. Washington Senate Bill 5222 would cap rent increases at 7% and prevent landlords from raising rents at all during a tenant's first year. That means if you're paying $2,000 each month in rent, your landlord would be capped at raising your rent beyond $140 the next year. Supporters argue the bill is necessary to keep people in their homes during a housing crisis. 'This bill simply provides some commonsense guard rails to say that landlords can't raise the rent at an excessive level, while they still can raise the rent, make a fair return and invest in the property,' said WA Sen. Emily Alvarado (D), who represents the 34th District. Opponents argue that these regulations could push developers away from Washington, slow maintenance projects at rental properties and hurt mom-and-pop landlords who rely on rental income. 'It's not that I'm not sympathetic to people that have had issues paying rent,' said WA Sen. Keith Goehner (R), ranking member of the Senate Housing Committee. 'It is tough to do that. But what's even worse is having housing basically go away.' A companion bill in the House, HB1217, is moving forward too. Across major cities in the region, Seattle has the highest average rent price, according to Zillow Rental Data. Average rent in Seattle across all size units is $2,017. In Olympia, it's $1,870. Everett renters pay an average of $1,834, while Tacoma renters pay an average of $1,685. Rents have increased over the last 12 months in Seattle (up $22) and Tacoma (up $60). They've dropped in Olympia (down $97) and Everett (down $16), according to Zillow. Tacoma renters we spoke to said they'd welcome limits to help curb rising rents. 'It definitely makes things more tight for sure,' said Tyler Cook. 'Originally there's a lot of extra money. Now, there's definitely a lot less extra money.' 'I hope it will keep people wanting to live in this great city,' said Molly Pollock.
