It took them several months to reach a decision, but the Montgomery County Council in Maryland finally adopted a rent stabilization bill by a 7-4 vote this week. The bill caps increases at 6%.

During the heated debate on the measure, the council was deciding between a bill that set a maximum cap at 3% and an "anti-rent-gouging" proposal that would have allowed increases as high as 8% plus inflation.

The competing proposals were introduced in March. The bill that passed this week represents the compromise: a cap of 3% plus inflation or 6%, whichever is lower, the Washington Post reported.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.