As Montgomery County councilmembers debate limits on rent increases, Takoma Park councilmembers announced its rate stabilization at 3.7% for the next year.
As of July 1 and running through June 30, 2024, landlords of multifamily units and rental condominiums are required to comply with the Rent Stabilization law.
They cannot increase rent on occupied units any higher than 3.7%. That amount was determined according to the percent change in the Consumer Price Index from March 2022 through March of this year.
Tenants must receive a two-month written notice of the increase.
