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