HB05042

Protects renters from excessive rent increases when a property changes ownership.

This bill aims to protect renters from excessive rent increases when a property changes ownership. It establishes criteria for determining if a rent increase is harsh and unconscionable, including factors like major renovations, compliance with health and safety regulations, and the availability of utilities. If a fair rent commission finds a rent increase to be excessive, it can limit the increase to a fair and equitable amount. The bill also defines terms such as "seasonal basis," "rental charge," and "municipality.