This bill proposes updates to the Arizona residential landlord and tenant act by introducing new regulations on rental rate increases. Under the proposed law, landlords would be prohibited from increasing rental rates beyond a specified maximum, which is determined by the annual rate of increase in the consumer price index plus an additional three percent, capped at a total annual increase of seven percent. The Office of Economic Opportunity would be responsible for providing the necessary consumer price index data to the Arizona Department of Housing.

Additionally, the bill mandates that the Arizona Department of Housing will calculate permissible rent increases upon request and handle tenant complaints regarding landlords' compliance with the new rental rate limits. If a landlord is found to have knowingly violated these limits, the matter would be referred to the attorney general for potential legal action, including restitution and injunctive relief. This framework aims to enhance tenant protections and ensure compliance with rental rate regulations.

Statutes affected:
Introduced Version: 33-1314