Montgomery County Executive Marc Elrich signed the newly-passed rent stabilization bill into law on Monday. Last week the Montgomery County Council voted (7-4) today to enact Bill 15-23, Rent Stabilization, which establishes maximum allowable rent increases to the lesser of the local annual Consumer Price Index for All Urban Consumers (CPI-U) plus three percent or six percent of the base rent.
Per Montgomery County: The legislation, sponsored by Councilmembers Natali Fani-González and Sidney Katz, takes a balanced approach by stabilizing rents in Montgomery County while also ensuring landlords can earn a fair return on their investment. Keeping in mind the County’s need to build 31,000 housing units by 2030, the legislation exempts newly built units for 23 years.