HB 721

Abstract

Local anti-rent gouging authority; civil penalty. Provides that any locality may by ordinance adopt anti-rent gouging provisions. The bill provides for notice and a public hearing prior to the adoption of such ordinance and specifies that all landlords who are under the ordinance may be required to give at least two months' written notice of a rent increase and cannot increase the rent by more than the locality's calculated allowance, described in the bill as the maximum amount a landlord can increase a tenant's rent during any 12-month period, in effect at the time of the increase. The bill sets such allowance as equal to the annual increase in the Consumer Price Index or seven percent, whichever is less, states that such allowance is effective for a 12-month period beginning July 1 each year, and requires the locality to publish such allowance on its website by June 1 of each year. Certain facilities, as outlined in the bill, are exempt from such ordinance. The bill also allows a locality to establish an anti-rent gouging board that will develop and implement rules and procedures by which landlords may apply for and be granted exemptions from the rent increase limits set by the ordinance. Finally, the bill provides that a locality may establish a civil penalty for failure to comply with the requirements set out in the ordinance.

A BILL to amend the Code of Virginia by adding a section numbered 15.2-959.1, relating to local anti-rent gouging authority; civil penalty. 24104529D