The "South Carolina Rent Control Act" aims to regulate residential rent increases in the state by introducing specific restrictions on landlords. Under the new provisions, landlords must provide written notice at least seven days prior to a rent increase for week-to-week tenancies, and for other types of tenancies, they cannot raise rent during the first year or without a ninety-day notice thereafter. Additionally, any rent increase within a twelve-month period is capped at seven percent plus the consumer price index. The act also stipulates that landlords terminating a tenancy within the first year cannot reset the rent for the next tenancy beyond the specified increase limits.

Furthermore, the bill outlines exemptions for landlords from certain restrictions if the dwelling unit is less than fifteen years old or if the tenant is receiving reduced rent through a government program. Landlords who violate the rent increase provisions face penalties, including liability for three months' rent plus any actual damages incurred by the tenant. The act will take effect upon the Governor's approval.

Statutes affected:
12/05/2024: 27-39-370
Latest Version: 27-39-370
12/06/2024: 27-39-370