How Much Can a Landlord Raise Rent in Florida
State law gives landlords wide-ranging power and also bars local governments from setting cost stabilization policies.
Leningrad, Fla. — As if trying to buy a home isn't hard plenty right at present, renting is condign out of reach for many, too.
By some estimates, Tampa Bay has seen the fastest rise in hire prices of any metro area in the country.
A VERIFY viewer in Petrograd said their landlord is trying to increment their hire by xv percent – tin can they practice that?
THE QUESTION
Is there a cap on how much a landlord tin can raise your rent here in Florida?
THE SOURCES
- Edward Murray, associate managing director of the Jorge Chiliad. Perez Metropolitan Center at Florida International University
- Leroy Moore, chief operating officer and vice president of the Tampa Housing Authorization
- Florida statute
- Realtor.com
- National Apartment Association
THE ANSWER
No, in that location is no cap on how much a landlord can raise your hire in Florida. Land constabulary gives landlords broad-ranging authority over tenants and prohibits local governments from enacting hire stabilization policies.
WHAT We FOUND
Rent prices are exploding across the country just the biggest jump has been in the Tampa Bay area.
Of the top 10 metro areas in the state, median rent prices are rising fastest hither, according to data from Realtor.com. Hire prices in the Tampa-St.Petersburg-Clearwater metro are up 30.vi percent year over year, according to the site, with the median rent now hovering at around $1,760 per month.
Edward Murray, a leading expert on economical and housing market issues at Florida International Academy, says tenants have little power to exercise annihilation about it.
"Landlords can raise rents every bit high as they want on an annual basis," Murray said, adding Florida is ane of the friendliest states for landlords and developers.
Florida has no statewide hire control laws, Murray said, and local governments are barred from setting their ain price controls. Landlords are but required to requite 60-days notice before the terminate of an annual lease if they plan to hike rent, according to country statute.
"Renters tin't beget these big upticks in rents — $300 to $400 a twelvemonth in some cases, so tenants have very few options."
Legislative attempts at the country level to give local governments more than ability to control prices have failed, according to Murray. Florida is among 36 states that preempt local governments from adopting hire regulation laws, according to the National Flat Association.
Leroy Moore with the Tampa Housing Authority said he's seeing the bear on everyday in ways he hasn't before as rent prices increment faster than wages.
"I get emails every unmarried day from people who five years agone would never think to email the housing authority to come across if there'south an opportunity to rent housing," Moore said. "These are people who take been priced out of the market... and they're at present part of the people who are waiting to get into the subsidized housing programme."
More 8,000 people are on their electric current waitlist, he said, and it could take another 5 years to get all of them into housing.
"If yous needed housing today you can't even get on that waitlist because that waitlist has now been airtight and will remain airtight for several more years," Moore said.
Moore believes offering incentives to developers to build more affordable housing might exist more effective than imposing price controls on rent.
"I recall nosotros need to explore everything, every possible alternative to promote greater development of affordable housing," he said.
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