Montgomery County Council Passes Historic Rent Stabilization Bill

The Montgomery County Council has passed a historic rent stabilization bill, capping the ability of landlords to raise rent and protecting renters in the county from dramatic rent hikes. The bill, known as Bill 15-23, was passed in a 7-4 vote on Tuesday, July 18, according to a report by WUSA9.

Under the new law, rent increases for most apartments and homes in the county will be capped at 6% per year, with exceptions for new construction and certain other circumstances. The bill also includes provisions for rent control, allowing the county to limit rent increases to inflation rate for certain units.

The bill’s passage has been hailed as a victory for renters’ rights advocates in the county, who have been pushing for stronger protections against skyrocketing rent prices. The bill is expected to impact approximately 40% of the county’s population, or around 400,000 residents who live in rental properties.

However, the bill has also criticized some landlords and property owners, who argue that it will discourage investment in the county’s rental market and lead to a shortage of affordable housing.

The new law will go into effect on January 1, 2024.