Limits rent increases to no more than 4% annually unless the landlord is granted an exemption by secretary of housing, and provides tenants with civil action to recover damages, including award of attorneys' fees and punitive damages, for any violations.

Rhode Island Rent Cap Bill Summary

This bill would place a limit on how much landlords in Rhode Island can raise rent each year. Specifically, rent increases would be capped at 4% annually — meaning if you're paying $1,000 a month, your landlord could not raise it by more than $40 per month in a given year. Landlords who believe they have a valid reason to raise rent beyond that limit could apply to the Secretary of Housing for an exemption, though the bill does not specify exactly what reasons would qualify.

The bill directly affects renters and landlords across Rhode Island. Tenants would gain a new legal protection against large, sudden rent increases that could make their homes unaffordable. Landlords, on the other hand, would face restrictions on how much additional income they can collect from existing tenants, regardless of market conditions or their own rising costs.

If a landlord violates the rent cap without an approved exemption, tenants would have the right to take them to court. In those cases, tenants could be awarded financial damages, and the landlord could be required to pay the tenant's attorney fees. Courts could also impose punitive damages, which are extra financial penalties meant to discourage future violations — potentially making violations costly for landlords.

The bill has been introduced in the Rhode Island Senate and referred to the Senate Housing and Municipal Government Committee, where it will be reviewed before any further action is taken.