Rent Stabilization - Bill 16-23: The Housing Opportunity, Mobility, and Equity Act
Renters are celebrating Montgomery County’s Ppermanent rent stabilization bill The Home Act, Bill 16-23
Marylanders want to remain in Montgomery County for job opportunities, school quality, and cultural diversity, but they suffer from endless price escalation in the private commercial market where they overwhelmingly reside. To stay housed in the County, they make daily decisions that impact their family’s nutrition, health, and welfare because they need to commit exorbitant portions of their income to housing.
Rent stabilization will change their lives.
In its current form, this bill:
- Fair Return is a system used in multiple jurisdictions to allow landlords reasonable increases above the standard rent increase allowance by comparing their current net operating income to a base year’s net operating income, adjusted by CPI.
Why is 3% (or a Fair Return Petition increase above 3%) a reasonable limit for rent increases?