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Boston City Councilor Michelle Wu has proposed a new plan to cap rent hikes at 10% per year to protect renters from “exorbitant” increases. However, there are some exceptions to the plan. Buildings that are less than 15 years old and small owner-occupied properties would be exempt from the restrictions. Additionally, the 10% limit would not apply to rent hikes between tenants, meaning landlords could raise the rent more before someone new moves in.
Northeastern University housing policy expert Barry Bluestone has characterized the plan as a “gentle proposal” that would protect many existing renters. However, only some people are on board with the plan. Greater Boston Real Estate Board CEO Greg Vasil has called rent control a “failed” policy that would discourage needed development in the city and exacerbate the city’s housing crisis. Mike Leyba, head of local tenants’ rights group City Life, has also criticized the plan, calling it “among the weakest rent control policies in the nation” and pledging to organize against it.
Wu’s office is working on fleshing out the details before formally proposing a home rule petition to the City Council. However, due to the statewide ban on rent control, the plan would also need sign-off from the State House and Gov. Maura Healey before it can be implemented.