TAMPA, Fla. - County governments – on both sides of the bay – are being forced to deal with the issue of skyrocketing rent.
Hillsborough Commissioners voted Wednesday to require landlords to give 60 days’ notice if rent is going up by more than 5%. Property managers are also now required to give 30 days’ notice if a lease is not being renewed.
If property management violates these new rules, which go into effect August 8, they can get slapped with a $500 fine per unit.
Rent in the Tampa Bay region has surged by 25% year to year – the highest increase in the nation.
"We are limited by the state in what we can do, but the ordinance in front of us today is a really good first step," said vice-chair Mariella Smith, Hillsborough.
Pinellas commissioners passed a similar ordinance on Tuesday, but it was on more of a tiered plan. For rent increases higher than 5%, landlords will be required to provide 60 days’ notice for yearly leases, 30 days for leases of three months to one year, and 15 days’ notice for tenants who are month-to-month.