South Carolina General Assembly introduces Rent Control Act with strict rent increase limitations

South Carolina lawmakers have introduced a significant piece of legislation aimed at addressing the rising cost of housing in the state. The South Carolina Rent Control Act, formally known as House Bill 3346, seeks to impose restrictions on residential rent increases, providing tenants with greater stability and predictability in their housing costs.

The bill, introduced on January 29, 2025, outlines specific provisions regarding how and when landlords can raise rent. Under the proposed law, landlords must provide written notice at least seven days in advance for week-to-week tenancies. For longer-term leases, rent increases would be prohibited during the first year of tenancy and would require a 90-day notice thereafter. Additionally, any increase in rent during a twelve-month period would be capped at seven percent plus the consumer price index, ensuring that tenants are not subjected to exorbitant hikes.

Key exemptions exist within the bill. Landlords may bypass these restrictions if the property is less than fifteen years old or if they are offering reduced rent as part of a government program. This provision aims to balance the interests of landlords while still protecting tenants from sudden financial burdens.

The introduction of this bill has sparked notable debate among lawmakers and stakeholders. Proponents argue that the legislation is essential for protecting vulnerable renters in a market where housing costs have surged. They emphasize the need for stability in an economy where many families are struggling to make ends meet. Critics, however, warn that imposing rent controls could discourage investment in rental properties and lead to a decrease in housing availability, potentially exacerbating the very issues the bill aims to resolve.

The implications of the South Carolina Rent Control Act could be far-reaching. If passed, it may set a precedent for similar legislation in other states grappling with housing affordability issues. Experts suggest that the bill could lead to a more balanced rental market, but they also caution that careful monitoring will be necessary to assess its impact on both tenants and landlords.

As the legislative process unfolds, the future of House Bill 3346 remains uncertain. Stakeholders on both sides of the debate are closely watching developments, as the outcome could significantly influence the housing landscape in South Carolina.