Bill > H3346

This bill introduces the South Carolina Rent Control Act, which establishes new restrictions on residential rent increases for landlords in the state. For week-to-week tenancies, landlords must provide at least seven days' written notice before increasing rent. For longer-term tenancies, landlords cannot increase rent during the first year and must provide at least 90 days' written notice for any rent increase after the first year. Rent increases are limited to 7% plus the consumer price index (CPI) during any twelve-month period, with exceptions for newer buildings (less than 15 years old) and properties participating in federal, state, or local affordable housing programs. The notice of rent increase must specify the new rent amount, effective date, and any supporting facts for exemptions. If a landlord violates these restrictions, they can be liable for three months' rent plus actual damages to the tenant. The CPI is defined as the annual twelve-month average change in the Consumer Price Index for the Southeast Region, as published by the U.S. Department of Labor in September of the previous year. The act will take effect upon approval by the Governor.

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https://www.scstatehouse.gov/billsearch.php?billnumbers=3346&session=126&summary=B