Bill > HB2718

This bill, concerning the Arizona Residential Landlord and Tenant Act, proposes to amend existing law regarding rental rate increases. Specifically, it introduces new provisions that limit how much a landlord can increase rent annually. The maximum increase is set at the annual rate of increase in the consumer price index (CPI), which is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services, plus an additional three percent of the current rent, but with a total annual increase capped at seven percent. The bill also establishes that the Arizona Department of Housing will be responsible for calculating permissible rent increases upon request and will investigate tenant complaints about landlords exceeding these limits, referring violations to the Attorney General for potential legal action, including restitution and injunctions. However, these rent increase limitations will not apply to newly-built dwelling units for the first thirty-six months after their initial certificate of occupancy is issued. The bill also includes a provision that the amended law will become effective on January 1, 2033.

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https://apps.azleg.gov/BillStatus/BillOverview/84565