Montgomery County tenants can expect a slight increase in rent this year, with the Voluntary Rent Guideline (VRG) rising to 3.3 percent, up from 2.6 percent last year. This new guideline, effective last Saturday, reflects the rental component of the Consumer Price Index for the Washington Metropolitan Statistical Area, linking it to inflation in the local real estate market. The VRG serves as a suggested rent increase limit for licensed residential properties, including multifamily units, houses, and accessory dwelling units. It is mandatory for properties covered by the Moderately Priced Dwelling Unit program and similar agreements.
According to the Montgomery County website, property owners are not legally required to follow the 3.3 percent guideline, but it is encouraged. Montgomery County Executive Marc Elrich said, "The County remains focused on protecting housing affordability. Rent hikes can add another stressful burden to families and individuals who are already struggling to put food on their table and pay their bills. The Voluntary Rent Guideline also acknowledges inflationary pressures for landlords while ensuring that our residents can continue to live in a community that is both affordable and equitable. We encourage all rental property owners to keep rent increases at or below the VRG of 3.3 percent."
Tenants should watch for written rent increase notifications, which must be delivered at least 90 days before the increase takes effect.
For questions about rent increases, tenants can contact the Department of Housing and Community Affairs (DHCA) at 240-777-0311 or visit the DHCA VRG webpage for more details about the guideline's history and adjustments.
