The proposed bill seeks to enhance housing stability for tenants in Washington by implementing measures to limit rent and fee increases, improve transparency, and establish stronger protections for renters. Key provisions include capping rent and fee increases at a maximum of seven percent within any 12-month period, with exemptions for certain tenancies, such as newly constructed units or those owned by public housing authorities. Landlords are required to provide written notice of any rent increases, including justification for exemptions, and tenants can terminate their rental agreements if increases exceed the legal limits. The bill also establishes a landlord resource center and mandates the creation of model lease provisions regarding rent and fee increases, while ensuring tenants receive at least 180 days' notice for increases of three percent or more.

Additionally, the bill amends existing landlord-tenant laws to impose stricter regulations on move-in fees, security deposits, and rent increases. It limits total move-in fees and security deposits to one month's rent, requires security deposits to be held in a trust account, and mandates written receipts for tenants. In cases of foreclosure, the previous owner must refund the full deposit to the tenant if not transferred to the new landlord. The legislation also outlines the required contents of written rental agreements for mobile home tenancies and prohibits certain provisions, such as late fees for rent paid within five days of the due date. Furthermore, the bill mandates a comprehensive assessment of the effects of rent stabilization, focusing on its impact on vulnerable communities and alternative rental markets, with a report due to the legislature by June 30, 2028.

Statutes affected:
Original Bill: 59.18.140, 59.18.270, 59.18.170, 59.20.090, 59.20.170, 59.20.060, 59.20.030
Substitute Bill: 59.18.140, 59.18.270, 59.18.170, 59.20.090, 59.20.170, 59.20.060, 59.20.030