This May Impact Senior Citizens
This May Impact Senior Citizens
Rent stabilization will end in April
According to ABC 7 News, advocates are concerned about the impact of the county’s rent stabilization bill that will end in April.
As of now, landlords are not allowed to raise rents more than 3 percent. After the bill ends — thousands of people could be in jeopardy of their rents increasing. Such an increase could impact senior citizens, a very vulnerable population in Prince George’s County. It is for this reason that The Basic Income program targets senior citizens, if they are accepted into the program, to receive between $500-800 monthly.
Here is how ABC 7 News reported it:
Excerpt: Low-income renters joined CASA for a rally this past weekend. They are currently spending more than 30% of their income on rent and utilities.
A report released by the Harvard Joint Center for Housing Studies published last week found these local residents are not alone. Nationwide, the number of tenants paying that much rose by 2 million in just three years to a record high of 22.4 million currently.
Council Member Krystal Oriadha has proposed a rent stabilization law that permanently protects renters from unlimited increases. A workgroup has been established by the council to look into other solutions.