Proposed Bill No. 6490 aims to regulate annual rental price increases for residential leases by establishing a maximum allowable increase based on the local Consumer Price Index plus five percent, with a cap of ten percent for any given year. The bill stipulates that landlords must provide tenants with a written notice of any rental increase at least ninety days in advance, detailing the original and new rental prices along with the calculation of the increase. Additionally, landlords are prohibited from carrying over any unused increase to future years and must comply with fair housing laws. The bill also allows landlords to request a temporary waiver of the maximum increase if they make significant property improvements.

Furthermore, the bill empowers tenants to file complaints with the Department of Housing regarding violations of the maximum rental increase, mandating that these complaints be investigated within thirty days. If violations are confirmed, the Department can require landlords to reduce rental prices, refund overcharges, and impose civil penalties, with enhanced penalties for repeated or willful violations not exceeding one thousand dollars per incident. This legislation seeks to protect tenants from excessive rent increases while ensuring landlords can still make necessary improvements to their properties.