Submitted by: Councilmembers Solomon and Schaible
Submitting Department: Legislative
Agenda Section: Discussion
Item Title:
title
Rent Stabilization and Affordability Fund
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Suggested Action:
recommendation
For Discussion Only.
I move that the Mayor and Council Authorize the City Attorney to prepare an ordinance on regulating the annual rate of increase in rental prices in the City Hyattsville.
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Summary Background:
The ordinance shall meet the following rent stabilization goals:
Rental Increase Allowance
This ordinance shall:
? Authorize and require the City Administrator to set and publish a maximum allowable annual rent increase (MAARI). The MAARI shall be the maximum annual allowable percentage increase in price per unit for non-exempt rental properties within the City of Hyattsville.
? The MAARI shall be equal to the annual percentage increase in the Washington-Arlington-Alexandria, DC-VA-MD-WV Consumer Price Index for All Urban Consumers (CPI-U) , from November to November of the two most recent calendar years, rounded to the nearest whole number, and shall be effective for a twelve-month period beginning January 1.
Exemptions
The following classes of rental properties and rental agreements shall be exempt from the limit imposed through the MAARI.
? Rental properties less than 15 years old.
? Buildings with 2 or fewer units.
? Owner-occupied where the tenants share a kitchen or bathroom with the owner.
? Short-term leasing agreements. (Defined as leases for 30 days or less, published via short term leasing platform such as AirBnb) Extensions of leases beyond 120 days will make the unit subject to the Rent Allowance clauses prescribed.
? Federally regulated rental units for which rates are negotiated between the federal government and property owners.
? Accessory apartments and dwelling units.
Rental Registry:
? The City shall create and maintain a publicly accessible rental registry containing all legal rental units within the City of Hya...
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