Rent Stabilization Bill To Be Signed into Law in Maryland County

A rent stabilization bill will be signed into law by a county executive in Montgomery County. Reports say the bill intends to limit both yearly rent increases and rates of inflation.

On July 18, the council members of the Montgomery County in Maryland passed the rent stabilization bill 7-4 which intends to limit the yearly rent increases to 3% and inflation rates to 6%. Reports say the council committee advanced with the rent stabilization bill after opposing bills were introduced earlier this year.

According to Wishingrad, on July 19, during a press briefing, Montgomery County Executive Marc Elrich announced that he intends to sign the rent stabilization bill into law as soon as it reaches his desk. Thereafter, the rent stabilization bill will take effect in 91 days, although there will be exemptions such as recently-built units for 23 years.

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Opposition to the Rent Stabilization Bill

However, according to Shahzad, some leaders in Montgomery County are not in support of the rent stabilization bill. The Greater Capital Area Association of Realtors (GCAAR) revealed that seven council members favored short-term policy goals over the rent stabilization bill.

Reports say those who voted against the rent stabilization bill were Council Vice President Andrew Friedson and Council members Dawn Luedtke, Marilyn Balcombe, and Gabe Albornoz. On the other hand, those who voted in favor of the rent stabilization bill were Council President Evan Glass and Council members Kate Stewart, Laurie-Anne Sayles, Kristin Mink, Sidney Katz, Will Jawando, and Natali Fani-González.

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