The proposed Washington State senate bill (House Bill 2114) that would have initiated rent control if approved, died on Monday, February 26th in the Senate, as the committee declined to take further action.

The proposed bill would have imposed the following:

  • Rent increases would be maxed at 7%
  • Maximum of 1.5% for late rent fees (Capped at $10 per month)
  • Maximum of one month’s rent for security deposits
  • Tenants would be able to terminate their lease within 20 days
  • 180 day notice required if rent was to increase by more than 3%
  • If rent was increased by more than 7%, owners would be required to pay all moving expenses for tenants along with three months of rent at their new location
  • Government Housing Authorities would be exempt from rent control

All of these proposed changes would have only benefited the tenant and are decidedly not owner friendly. If these new laws were passed, it would have caused smaller mom and pop owners to be in a rough spot. With potential expenses rising at such a high rate, rent increases being maxed out could have caused owners with low rents to be in a precarious situation. Lastly, late rent fees being capped at $10 removes motivation to pay rent on time for tenants. 

Luckily, these laws were not passed this time, and rent control in Washington has been delayed for the foreseeable future.

We will continue to stay vigilant on your behalf, and remind our state representatives that Rent Control is NOT the answer!


SVN Cornerstone Multifamily Team

Nate Gant is an Advisor with SVN Cornerstone. Nate has been an active member of the Eastern Washington real estate community since 2010. He has brokered more than $100 Million in real estate transactions, specializing in land development, REO and investment properties. To get in touch with Nate, email or call 509.993.4440.

Jordan Lester is an Associate Advisor with SVN Cornerstone. Jordan served as a brokers assistant for 3 years with SVN Cornerstone before becoming a full time broker. Jordan specializes in the multifamily sector of commercial real estate. To get in touch with Jordan, email or call 509.496.6922