Title
AN ACT CONCERNING LANDLORD-TENANT REGULATIONS - PROHIBITION OF RENT GOUGING for the purpose of preventing landlords exempt from rent stabilization regulations from raising rents excessively by capping annual increases at fifteen percent.
Background
In February 2023, the Council enacted temporary protections for renters who might otherwise face excessive rent increases during the public health emergency. With those temporary measures set to expire, the Council considered CB-55-2024, which establishes a permanent rent stabilization program. That program generally limits rent increases to the Consumer Price Index plus allowances for capital improvements and a fair return. However, CB-55-2024 exempts certain rental units from these permanent protections, leaving some renters vulnerable to excessive rent increases. This bill addresses those renters by capping rent increases for otherwise exempt units under CB-55-2024 to fifteen percent during a 12-month period. Should the Council fail to enact CB-55-2024, this bill shall be null and void.