This bill proposes updates to the Arizona residential landlord and tenant act by introducing new regulations regarding rental rate increases. Specifically, it establishes that landlords cannot increase 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 of the current rental amount, capped at a total annual increase of seven percent. The bill also mandates that the office of economic opportunity provide the necessary consumer price index percentage to the Arizona department of housing annually.

Additionally, the bill outlines the responsibilities of the Arizona department of housing in enforcing these new regulations. It requires the department to calculate permissible rent increases upon request and to accept and investigate tenant complaints regarding landlords' compliance with the new rental rate limits. If a violation is found, the department is tasked with referring the case to the attorney general, who may pursue legal action for unlawful practices related to rental rate violations.

Statutes affected:
Introduced Version: 33-1314