Rising costs are a daily conversation in our society. Rent prices are no exception to this.  You do not have to look far to hear of another example of someone being priced out of their home. Given the shortage of affordable units and high mortgage rates, people are left without options. We need to have a realistic conversation regarding how high rental costs should be increased to protect tenants from financial hardship and to give flexibility to landlords to cover their expenses to maintain a safe and habitable living space.

We want to be clear that our bill has protections for both parties entering into a lease agreement. It is vital for us to provide guidelines and oversight to ensure property owners are maintaining their property and being responsive to tenants needs, as currently required under state law. Both tenants and landlords will have an oversight agency to appeal to in the event of wrongdoing. Landlords would be able to appeal to this agency to claim an exemption in times of financial hardship. If approved for a one-time exemption, landlords would be allowed to increase their rental costs beyond the annual limit. We understand that landlords rely upon the revenue of their properties and therefore our bill defines and exempts small landlords from the annual rent increase limitations.

We need to delicately balance the housing supply and not stunt the growth of housing development. Newly developed housing would not be subject to rent control measures until the property reaches 10 years of age after receiving a certificate of occupancy. We are currently in a housing crisis, and we need to act now to prevent families from experiencing homelessness.

With Pennsylvania’s minimum wage remaining at $7.25, and rapidly increasing rent prices, we must act to protect all tenants from predatory situations that could force them out of their homes and away from their families, places of work, education, and healthcare.

Please join us in co-sponsoring this important legislation.