SPONSOR: Mosley
This bill establishes the "Missouri Housing Predictability and Transparency Act".
Beginning January 1, 2027, a landlord must not increase a tenant's rent by more than either of the following amounts in any 12 month period:
(1) 7%, plus any annual increases for inflation; or
(2) 10%.
A landlord must provide the tenant with written notice of any rent increase at least 90 days prior to the increase. The notice must include certain information, as specified in the bill.
The provisions of this bill will not apply to the following:
(1) Newly constructed residential units during the first 15 years after certificate of occupancy is issued;
(2) Units that are newly created due to substantial rehabilitation in which the landlord's investment is equal to or greater than 25% of the property's assessed value within the preceding 12 months;
(3) Units owned or operated by nonprofit housing providers receiving government subsidies; and
(4) Tenants who are delinquent on rent at the time of renewal.
A tenant may bring a civil action for violations of this Act, as specified in the bill.
Statutes affected: