AN ACT LIMITING THE INCREASE OF RENTAL CHARGES UPON TRANSFER OF RESIDENTIAL PROPERTY TO A NEW OWNER.

HB 6892 limits rent increases for residential properties sold within the past year. If a new owner raises rent by more than 10% of the previous lease amount, a fair rent commission must presume this increase is excessive - unless the owner completed major renovations to at least two primary building systems (like plumbing, electrical, or heating). This bill directly affects landlords selling properties and tenants in those units, particularly in municipalities with fair rent commissions. It takes effect July 1, 2025, and modifies how commissions evaluate rent hikes after ownership transfers.