An Act relative to avoiding senior homelessness and maintaining senior housing stabilization of rents

This bill aims to prevent senior homelessness by capping rent increases for elderly tenants in specific situations. It applies to individuals over 60 who live in rental units sold to new owners and are either applying for public housing or waiting for a spot on a public housing list. Under the new rules, landlords can only raise rents by the lower of the local Consumer Price Index change or five percent for a period of five years. The protections do not apply to owner-occupied buildings with two units or fewer or to units already regulated by public authorities. Additionally, the law requires cities and towns to ensure these rent limits are available to seniors earning at or below 80 percent of the area median income.