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Wu's proposal, which would set an annual rent increase cap between 6% and 10% depending on inflation, still needs approval from city and state lawmakers.
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The proposed plan, still in its infancy, would tie rent increases to inflation but wouldn't allow hikes of more than 10%.
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Twin efforts in Montgomery and Prince George's counties are igniting a debate over curbing rental increases while still incentivizing new construction.
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The final bill was a compromise between two competing proposals that called for rent caps of 3% and 8%.
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Mayor Michelle Wu, in front of a 400-person real estate audience at a Bisnow event Tuesday, discussed her rent stabilization and IDP proposals.
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Similar measures have been defeated twice before.
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Commercial real estate leaders say repealing the Costa-Hawkins Rental Housing Act could have serious ramifications on the housing industry.
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Montgomery County's rent control law stifles new multifamily projects, necessitating creative financing solutions.
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An expansive San Francisco landlord, Veritas Investments appears ready to dive into Oakland's growing rental market.
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A new ruling means bankrupt tenants can't be evicted from subsidized apartments.
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