Washington State Debates Rent Control

SB 5222

WA’s Senate Housing Committee heard testimony on SB 5222, a bill that would mandate a 7% cap on rent increases (aka rent control). If you care about the cost of housing, watch these key moments from expert testimony. But first, the bill’s sponsor asking for grace.

PRO

PRO price cap: Bryce Yadon says renters “deserve the same assurance I have that my mortgage won’t increase 25% in a single year because the bank decided they didn’t plan.”

“I’ll have to do some research…”

Sen Chris Gildon asks Bryce for an example of where rent control has worked. “I’ll have to do some research and get back to you.”

Counter-Question

Sen Alvarado (who introduced the bill as a Rep in the House) fires a counter-question at Bryce.

CON

CON price cap: Emily Thompson says “in WA we embrace housing developers under the ethos that increased supply is good for everyone, but the moment we become a landlord, we go from the hero to the antihero…that has to change.”

PRO

PRO price cap: Siobhana Mcewen says “The WA legislature has spent millions trying to amend for racialized harm caused by capitalism and systemic racism. SB 5222 is another example of legislation that can help decrease the harms caused on black and brown communities.”

CON

CON price cap: A-P Hurd says “here we are again looking at rent caps, hoping we can get the benefits of rent caps without the downsides…rent caps sound so reassuring, but they severely limit market rate housing supply.”

PRO

PRO price caps: Kraig Peck says “a 7% annual limit easily covers much larger increases in operating costs. Why? Because the operating costs are only a portion of the income.”

CON

CON price caps: Morgan Irwin says “Not only do we agree we have a problem in WA, we even agree the problem is cause by a lack of supply. And so the question we’re left with is, does this bill move the needle forward on the supply side? I don’t think that it does.”