'Meaningful progress': Gov. Ferguson signs landmark bill to cap rent increases in Washington
Washington Governor Bob Ferguson signed a bill Wednesday that set limits on rent increases—one of the first in the country.
Rent stabilization bill, HB 1217, caps rent increases at 7% plus inflation, or 10%—whichever is lower. Washington now joins Oregon and California in drafting legislation that curbs climbing rent prices.
“There is no single policy that will fix our housing crisis, but we need this comprehensive approach,” Sen. Emily Alvarado said at the bill signing.
Two amendments were added to HB 1217 by the Senate, changing the cap from a flat 7% to a choice of whatever is lower between a 7% raise with inflation or a flat 10%. The second amendment exempts single-family homes, which represent approximately 38% of Washington renters.
https://mynorthwest.com/mynorthwest-politics/ferguson-rent-cap/4084750