Hawaii HB693 limits annual rent increases for residential tenants to protect housing stability.

Hawaii HB693 aims to improve housing stability for renters by capping annual rent increases. The bill prohibits landlords from raising the gross rental rate by more than the lesser of seven percent plus the regional cost of living change or ten percent. If the annual allowable increase does not cover operating and maintenance expenses, landlords can raise the base rent by an additional seven percent. The bill also requires landlords to provide written notice of any rent increase sixty days in advance, except for month-to-month tenancies.

Hawaii HB693 limits annual rent increases for residential tenants to protect housing stability.

Hawaii HB693 aims to improve housing stability for renters by capping annual rent increases. The bill prohibits landlords from raising the gross rental rate by more than the lesser of seven percent plus the regional cost of living change or ten percent. If the annual allowable increase does not cover operating and maintenance expenses, landlords can raise the base rent by an additional seven percent. The bill also requires landlords to provide written notice of any rent increase sixty days in advance, except for month-to-month tenancies.