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Metropolitan DC Local Politics
Reply to "MoCo Rent Control Bills"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Well, Council passed permanent rent control today, with a 7-4 vote. Lots of amendments, explained here. Rent increases capped at 9% When a rental vacates, landlords can only raise rent 10% for new tenants. Rent control won't apply to construction within the past 23 years. There is an exception if there is substantial renovation that costs the owner 40% of the property's total value. [b]Landlords only owning 2 units or less are exempt.[/b] https://montgomeryperspective.com/2023/07/18/rent-control-votes/ [/quote] So I only have 1 condo- this means I can theoretically raise rent 15% a year?[/quote] As long as you own it directly. If you own it through an LLC you have to obey the rent law. [/quote] Thanks. It was my old condo that I rent out. [/quote]
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