Bill > SB1296

This bill modifies Oklahoma's Residential Landlord and Tenant Act by establishing new restrictions on rent increases for month-to-month rental agreements. Under the new provisions, landlords must provide tenants with at least 90 days written notice before increasing rent, and they cannot raise rent by more than 7% plus the Consumer Price Index within a 12-month period. The notice must specify the amount of the rent increase, the new rent amount, and the effective date. The bill provides an exemption for landlords offering reduced rent through federal, state, or local programs. If a landlord violates the rent increase limits, they can be held liable for three months' rent plus any actual damages incurred by the tenant. The law will take effect on November 1, 2026, giving landlords and tenants ample time to prepare for the new regulations. This legislation aims to provide more predictability and protection for tenants by limiting the frequency and magnitude of rent increases in month-to-month rental arrangements.

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http://www.oklegislature.gov/BillInfo.aspx?Bill=sb1296&Session=2600