Massachusetts H1497 aims to prevent senior homelessness by stabilizing rents for seniors in rental properties sold to new owners.

Massachusetts H1497 introduces a provision to limit annual rent increases for seniors over 60 years old in rental properties sold to new owners. The annual rent increase cannot exceed the annual change in the Consumer Price Index for the applicable area or five percent, whichever is less, for five years. This provision applies to private housing market units, excluding those in owner-occupied buildings with two units or less or those regulated by a public authority.

Massachusetts H1497 aims to prevent senior homelessness by stabilizing rents for seniors in rental properties sold to new owners.

Massachusetts H1497 introduces a provision to limit annual rent increases for seniors over 60 years old in rental properties sold to new owners. The annual rent increase cannot exceed the annual change in the Consumer Price Index for the applicable area or five percent, whichever is less, for five years. This provision applies to private housing market units, excluding those in owner-occupied buildings with two units or less or those regulated by a public authority.