Rent spikes could hit Montgomery County residents as cap bill stagnates

Prices could soon skyrocket for some Montgomery County tenants now that a bill on a rent increase cap has stalled.

Prices could soon skyrocket for some tenants in Montgomery County, Maryland, now that a bill on a rent increase cap has stalled.

The county measure would have prevented landlords from raising rents more than 4.4% for another six months.

“My husband and I have received notice of a 10% increase for our townhouse,” said Laura Wallace, Rockville resident and Montgomery County director for Jews United for Justice, who spoke out in in favor of the cap during a public comment session before county council members. tuesday.

“Our landlord has made it clear that if he puts the house back in row, he could get an 18% raise.” said Wallace.

Property manager Sid Menkis, however, told council members that landlords were facing higher expenses.

“Their property taxes went up, homeowners and condo fees went up, property insurance, repair costs, appliance replacement costs,” Menkis said.

“It’s also untenable to single out housing providers as the only industry regulating price increases during this time of inflation,” said Dean Hunter, CEO of Association of Small Multifamily and Rental Landlords.

“I know the road to a solution to the affordable housing problem is complicated, but if the government cannot help people meet [their] most basic needs, that what is the purpose of government? said Ashton resident Kimberly Johnson.

In the end, the council took the vote off the agenda on Tuesday, meaning a vote on it now wouldn’t take place until September.

Montgomery County’s previous 0.4% temporary rent increase cap expired May 15, but tenants must be given three months’ notice for a rent increase.

Like WTOP on Facebook and follow the OMCP on Twitter and instagram to start a conversation about this article and others.

Get the latest news and daily headlines delivered to your inbox by signing up here.

© 2022 OMCP. All rights reserved. This website is not intended for users located in the European Economic Area.

Previous Head-to-Head Comparison: American Tower (NYSE:AMT) vs. Howard Hughes (NYSE:HHC)
Next From housing to groceries, Sonoma County residents are adapting to pay more