RELATING TO THE RESIDENTIAL LANDLORD-TENANT CODE.

HB 693 restricts how much and how often landlords can increase rent for residential tenants, directly affecting both landlords and renters in the state. The bill limits the total annual rent increase to a specific cap and restricts the frequency of raises within a twelve-month period. This would require landlords to adhere to a set annual limit on rent hikes for all covered residential properties under the state's landlord-tenant code. The bill is pending in committee and has not yet been enacted.