Senate Bill 611 was signed into law on July 06, 2023. This bill will cap rent increases at 10% or 7% plus CPI (whichever is lower) - The exemption for new constructions remains at 15 years.
The maximum allowable rent increase percentage for the 2025 calendar year is 10% or 7% plus CPI (whichever is lower) – Th
e allowable annual rent increase in 2025 is 10.0%. Only one rent increase may be issued in any 12-month period.
The allowable rent increase percentage for the previous year, 2024, was 10%.