Understanding Fair Rent Policies

Fair rent policies are municipal government policies that are designed to prevent landlords from charging rents that are significantly higher than the average rental rates for similar properties. Unlike rent control policies, they don't place a cap on how amount of the rental rate, instead they limit the rate the rent can be increased. The details of rental control policies vary between municipalities, so landlords and tenants should check to see which fair rent policies apply in their area.

Fair Rent Policies Basics

Different municipalities with fair rent policies impose different rules and restrictions on tenants and landlords. They usually impose slightly different policies on different types of buildings. In some cases, the policies are applied to all eligible rental properties, while in others; they are only applied if tenants can prove that the rents have been raised above policy limits. Tenants may be ineligible for fair rent policies if they haven't paid their rent on time or already signed a lease with an increased rent.

Landlords and tenants can find out about their local fair rent policies by contacting their local housing authority. The policies often change year to year, so tenants and residents should check back on annual basis,

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