The VRG limit on rent increases is voluntary to all County-licensed residential rentals, including rental units in multifamily buildings, houses, townhouses, individual condominium units, and accessory dwelling units. However, the VRG is mandatory for rental units regulated under the Moderately Priced Dwelling Unit (MPDU) program and other regulatory agreements.
“While VRG is mainly voluntary, we appreciate the cooperation of property owners who adhere to these guidelines and help maintain the quality of life for those individuals and families who rent and call Montgomery County home,” said Montgomery County Executive Marc Elrich. “The County remains focused on protecting housing affordability. Rent hikes can add another stressful burden to families and individuals who are already struggling to put food on their table and pay their bills. The Voluntary Rent Guideline also acknowledges inflationary pressures for landlords while ensuring that our residents can continue to live in a community that is both affordable and equitable. We encourage all rental property owners to keep rent increases at or below the VRG of 3.3 percent.”
Advertisement
For updates and link to press release, see here: http://www2.montgomerycountymd.gov/mcgportalapps/Press_Detail.aspx?Item_ID=46639