Massachusetts H4063 aims to protect residents from excessive rent increases in affordable housing units.
Massachusetts H4063 seeks to safeguard residents from significant rent hikes in affordable housing units by limiting annual rent increases to 3.5%. If market rates decrease, landlords must reduce rents accordingly. The bill also mandates landlords to reinvest a portion of their fees and profit distributions back into the rental projects. Additionally, it establishes a task force to enhance regulatory agreements and technical support for municipalities.
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