Rent Control Ordinance

A Rent Control Ordinance is a regulation that limits how much landlords can increase rent on residential properties within a specific area. Its goal is to ensure housing affordability by protecting tenants from sudden or excessive rent hikes. Typically, the ordinance sets maximum allowable increases annually, often based on inflation or a fixed percentage. It may also outline tenants' rights, procedures for rent adjustments, and conditions under which rent can be increased or stabilized. Overall, it balances landlords' interests with tenants' right to affordable housing, promoting stability and predictability in rental markets.