Personal Finance
Rent Hike Cap Approved By Prince George's County Council
Under the Rent Stabilization Act, a landlord cannot increase rent to an amount that exceeds 3 percent per year of the existing rent amount.
PRINCE GEORGE'S COUNTY, MD — A rent hike cap of 3 percent has been approved by the Prince George's County Council. The cap will last for at least one year.
Under the Rent Stabilization Act, a landlord cannot increase rent to an amount that exceeds 3 percent per year of the existing rent amount for any tenant. A landlord also cannot issue a notice of rent increase, late fees or penalties during the six-month period of the act.
"The rent was going up $326 a month," 72-year-old retiree Janet Vinson told WUSA.
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However, some members of the Prince George's County Council spoke out against the Rent Stabilization Act during their meeting, saying it would drive away people who rent properties.
"I don't want our seniors living in slums or run-down properties," said Councilmember Mel Franklin. "Pitting renters against property owners is asinine."
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