With rent prices surging across the country, legislators are looking for ways to curb the surge and help tenants stay in their homes. State lawmakers have come up with different options for rent control legislation to help with the effort, including putting a limit on how much landlords can increase their rent.
For the most part, rental prices have been on the rise since the start of the COVID-19 pandemic. According to real-estate broker, Redfin Corp., rental prices are up on average by 18 percent over the past two years. Most of these proposals restrict how much a landlord can raise rent by no more than two to ten percent in an effort to hold off any continued increase.