Washington State lawmakers approved House Bill 1217, capping annual rent increases at 10% or inflation plus 7%, making it one of the few states with statewide rent controls. This measure aims to provide protection for tenants amidst significant rent increases that have outpaced incomes. The law applies only to lease renewals and does not affect new buildings for the first 12 years. While critics argue that rent controls may hinder new development, proponents believe they offer necessary stability during economic turbulence.
"Washington State has enacted House Bill 1217, capping rent increases at 10% or at inflation plus 7%, addressing rising housing costs amid economic uncertainty."
"Supporters of the rent cap argue that it will provide necessary protections for tenants amidst rising housing costs, ensuring stability in uncertain economic times."
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