RELATING TO THE RESIDENTIAL LANDLORD-TENANT CODE.

HB 693 limits how much and how often landlords can raise rent for residential properties within a one-year period. It directly affects landlords who set rental rates and tenants who pay them, capping annual rent increases to provide more housing cost stability. The bill establishes a specific maximum percentage increase allowed per year and restricts how frequently landlords can implement such hikes. This change aims to prevent sudden, excessive rent jumps without altering other landlord-tenant rules.