Biden to call for corporate landlords to cap rent increases at 5%

Published July 16, 2024 5:00am ET



President Joe Biden is pushing for Congress to make it so corporate landlords have to cap rent increases on existing units at 5% or lose prized tax breaks.

The push, which would almost certainly not happen given Republican control of the House, comes in a fierce election year in which housing affordability has rankled consumers. The policy would apply only to corporate landlords, those with over 50 units in their portfolios, and would cover more than 50 million units across the country, according to the White House.

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