There are two bills being proposed in the Washington legislature that if enacted into law would impose strict rent controls in Washington. The proposals’ terms vary, but both would essentially peg rent increases to inflation, with a cap of seven percent. The bills are HB 1388 and HB 1389. HB 1389 has numerous provisions absent from HB 1388. Landlords could “bank” unused rent increase capacity if the landlord does not increase rent in a 12-month period. To preserve banked capacity the landlord would have to serve a statutory notice form and serve in the same formal legal manner as a […]
rent increases
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