RELATING TO RENT.

Establishes that effective January 1, 2019, rent for all residential dwelling units shall be established at an amount equal to the amount of rent charged for the same dwelling unit in 2015 and shall not be increased more than three per cent annually or three per cent per lease term. Establishes that each county may adjust rents to a fair rental value for specific areas in each county. Establishes that for any residential dwelling unit for which rent was not collected in 2015, the county shall determine the effective base rent for the dwelling unit. Requires each county to establish a process for granting exemptions from the rent control requirements for those property owners who have invested an unspecified amount to improve or upgrade a residential dwelling unit to meets codes.