The proposed bill aims to enhance housing stability for tenants in Washington State by implementing regulations under the residential landlord-tenant act and the manufactured/mobile home landlord-tenant act. Key provisions include capping rent and fee increases at a maximum of seven percent within any 12-month period, requiring landlords to provide written notice of such increases, and establishing a landlord resource center for compliance assistance. Tenants will have the right to terminate their rental agreements if rent exceeds the stipulated limits, and landlords are prohibited from imposing more burdensome terms on month-to-month agreements compared to longer-term leases. The bill also introduces exemptions for certain properties that may allow for rent increases beyond the cap, while emphasizing transparency through annual notices and documentation for claimed exemptions.

Additionally, the bill amends existing laws regarding move-in fees and security deposits, limiting the total amount charged to one month's rent and requiring that all security deposits be held in a trust account with written receipts provided to tenants. It prohibits landlords from raising rent and fees combined by more than seven percent during any 12-month period and during the first year of tenancy, and it protects tenants from being reported to screening services for nonpayment of unlawfully increased rent. The legislation also mandates a comprehensive assessment of the effects of rent stabilization, focusing on various impacts, which must be submitted to the legislature by June 30, 2028, with provisions expiring on July 1, 2029.

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