AN ACT RELATING TO PROPERTY -- RENT CONTROL IN THE CITY OF PROVIDENCE

HB 5954 authorizes the City of Providence to implement rent control for most multi-family rental housing, directly affecting tenants and landlords in covered properties. The bill allows the city to set annual rent increase limits based on local housing affordability, prohibit excessive rent hikes (capping increases at a percentage of the previous year's rent), and establish "just cause" eviction protections requiring landlords to have valid reasons (like nonpayment or lease violations) to evict tenants. It includes exemptions for small properties (under six units where owner lives there), hotels, student dorms, nonprofit housing, and new constructions under 15 years old. The law aims to address housing insecurity by giving Providence tools to stabilize rents and prevent displacement, while maintaining flexibility for local implementation.