The D.C. Council unanimously passed an emergency bill Tuesday capping many new rent increases at 6% starting July 1, bookmarking lawmakers’ frantic volley this spring to legislate around historic increases in rent prices.
The rate cap applies to rent-stabilized apartments – most multifamily buildings constructed before 1976 – and includes a provision that also prevents property owners from raising prices by more than 12% over two years. Seniors will see more aggressive protections, with new rent increases capped at 4% this year and 8% total over the next two years. While D.C. does not have an accurate count of the number of rent-stabilized apartments in the city, the figure could be as high as 70,000-80,000.
Spearheaded by At-Large Councilmember Robert White with significant input by Ward 4 Councilmember Janeese Lewis George and Ward 3 Councilmember Matt Frumin, the cap is meant to blunt the impact of a sharp spike in allowable rent increases authorized this year under the city’s rent stabilization law.
Click here to read the rest of the article written by Morgan Baskin over at DCIST
