Urge Your State Legislators to Reject Rent Control – Keep Housing Affordable for All

Vote No on HB 1217 & SB 5222

Sign The Letter

Dear Official,

HB 1217 and SB 5222 would have the opposite effect it aims for. The bill limits rent and fee increases to 7% annually and would increase the notification period to 180 days (6 months) for increases over 3%. The burden to notify tenants of rent increases six months in advance is extreme, as many landlords may not know what the economic conditions or maintenance requirements on the unit six months in advance may be. Tenants would be able to terminate a lease with just 20 days' notice if the increase is over 7%, and the tenant would receive damages and up to three months’ rent. Additionally, the bill caps late fees at 1.5 percent of monthly rent, which significantly reduces any incentive to pay rent on time and caps move in fees and security deposits to 1 month’s rent. All of these requirements impose significant burdens on landlords, which could lead to fewer landlords renting out units and reducing the supply of housing. A 2023 survey found that 54% of landlords surveyed would sell at least some of their properties due to increased costs stemming from rent control.

Unfortunately, HB 1217 and SB 5222 would not help reduce rents or the rental property market in the state. Instead, it would reduce the number of rental properties on the market, drive up rent prices, and most likely lead to more homelessness as less renters can keep up with the rising prices. Instead, the legislature should consider reforming zoning and permitting rules that make building homes and rental units more expensive.

It is for these reasons I respectfully urge you to oppose HB 1217 and SB 5222.
HB 1217 and SB 5222 would have the opposite effect it aims for. The bill limits rent and fee increases to 7% annually and would increase the notification period to 180 days (6 months) for increases over 3%. The burden to notify tenants of rent increases six months in advance is extreme, as many landlords may not know what the economic conditions or maintenance requirements on the unit six months in advance may be. Tenants would be able to terminate a lease with just 20 days' notice if the increase is over 7%, and the tenant would receive damages and up to three months’ rent. Additionally, the bill caps late fees at 1.5 percent of monthly rent, which significantly reduces any incentive to pay rent on time and caps move in fees and security deposits to 1 month’s rent. All of these requirements impose significant burdens on landlords, which could lead to fewer landlords renting out units and reducing the supply of housing. A 2023 survey found that 54% of landlords surveyed would sell at least some of their properties due to increased costs stemming from rent control.

Sincerely

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Rent control reduces the supply of available housing by diminishing the profit incentive to build more and results in inadequate and worsening housing conditions for low-income people. Even though 93% of economists across the political spectrum agree that rent control is a harmful policy, it is often touted as an option when addressing lack of affordable housing. Rent control limits the supply of housing, as it imposes increased costs and difficulties on landlords and developers in maintaining existing rentals and building new rental buildings. Even with an exemption for new buildings, developers are likely to be wary about maintaining or increasing housing construction, as those units would be subject to rent control after 10 years. In fact, a study in Washington state found that imposing a 7 percent cap on rent increases would result in over 7,000 fewer new housing units in the state over the next decade, and similar reductions in rental buildings have been seen in other places with rent control, such as San Francisco and New York City.