The Prince George's County Council has passed legislation to cap rent increases at 3% for the next year.
Dozens of renters packed the Council's hearing room Tuesday to testify in favor of rent stablization. Many said they're struggling to make ends meet, and their landlords are raising their monthly rent by hundreds of dollars.
"I can’t take it no more. Where are people supposed to go? Where is people supposed to live?" resident Kia Jefferson said.
"If this increase is enacted, I am going to turn my car into the bank because it will be impossible for me to continue making the notes," renter Yvonee Corney said.
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The Rent Stabilization Act caps rent increases at 3% for the duration of one year.
"Many of us, for the first time in our lives, are having to frequent food banks and pantries and are experiencing food insecurity," one woman told the Council.
But others argued against rent stabilization. Some property managers said they worry it could increase rent in the long run because landlords won’t want to invest in Prince George’s County and housing will be in short supply.
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"Just as our residents, my company too must pay bills that are impacted by inflation," Jessie Barter, with Charger Ventures, said at the council hearing. "It seems unfair to target those who choose to invest in housing in this county."
William Crosthwait, the regional manager for Legacy Residential, which owns the Flats of Forestville and several other buildings, said he can't give his employees a raise due to rising costs.
The city of Mt. Rainier also recently voted to cap rent increases at 3%.
The Prince George’s County bill will take effect in 45 days.
Under the new law, landlords who violate the Rent Stabilization Act would face a fine of $500 for the first offense and $1,000 for each offense after that.
