Arizona residents have had to grapple with skyrocketing rents for the past two years, leaving many with few affordable housing options. Now, one senator is proposing a bill to change that by introducing statewide "rent control" measures that would cap annual rent increases.
It's no secret that Arizona renters have been struggling to find affordable housing lately. Some local tenants in the Scottsdale area reported that their rent went up by as much as $800 this year when it was time to renew their lease.
That's an increase that most people just cannot afford, especially as the price of food, gas, and utilities see record highs due to inflation.
Arizona has seen some of the biggest rent increases in the nation since 2021. Currently, there isn't much that tenants can do about it. In fact, Arizona has a law that specifically prevents cities or towns from controlling rent prices.
However, State Senator Martin Quezada does not agree that landlords and property management companies should be allowed to raise rents to the excessive levels that many tenants have experienced this year.
In an effort to curb staggering rental increases, Senator Quezada has introduced a bill that would limit rent increases to "5 percent per year plus the cost of inflation or 10 percent, whichever is lower."
However, Quezada had attempted to introduce similar bills in the past without much success. He's hoping that things will be different this year and more lawmakers will recognize that many people in Arizona are struggling to find affordable housing so that he can get the support he needs to pass the bill.
We will be following the progress of this rent control bill. Be sure to follow for updates.
Do you think that Arizona needs a "rent control" law?
Or do you think rent control measures are harmful to the housing market?
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