In a decisive move to combat rent inflation and provide relief to tenants across the state, Washington Governor Bob Ferguson has signed HB 1217 into law, setting firm restrictions on rental rate increases. This legislation, which has been years in the making, was championed by Rep. Nicole Macri (D-Seattle) and marks a significant step towards housing stability.
The bill particularly targets what many have come to recognize as rent gouging, setting a high bar for landlords in terms of how much they can hike up the rent year over year. "The challenge of affordable housing has only increased, despite years of legislative work to expand supply and subsidies provided during and after the pandemic. It's time for stability for renters," Macri expressed in a statement obtained by House Democrats. She further stressed that while this bill is not a panacea for all housing issues, it serves as "an incredibly important step forward" and affords tenants the predictability essential for managing their finances.
Specific caps put into place by HB 1217 include a 5 percent annual limit on rent increases for manufactured home park tenants. For the majority of other residential rentals, such as apartments and single family homes, the cap is set at 7 percent plus the rate of inflation, or 10 percent, depending on which is lower. This is intended to give renters a fighting chance at keeping pace with a volatile housing market.
Another major aspect of the law is its requirement for landlords to provide a 90-day notice before implementing rent increases. This three-month period is aimed at giving families better opportunities to adjust their budgets, or to seek alternative housing if necessary. With families often at the mercy of sudden rental spikes, the new law is seen as a critical measure to curb the pressure they face. "This is going to make a big difference for families who have been facing year after year of skyrocketing and price gouging rent increases," Macri told House Democrats.
