MIAMI BEACH (CBSMiami) – As apartment rents soar in South Florida, the City of Miami Beach is trying to protect residents from substantial rent hikes.
The Miami Beach City Commission unanimously approved an ordinance Wednesday requiring residential landlords to give their tenants at least 60 days written notice before imposing a rent increase greater than 5%.
"I sponsored this legislation because our residents deserve a fair notice when rents go up," explained Miami Beach Commissioner Alex Fernandez. "Expanding the notice requirements does not cost anything and helps tenants with more time to adjust, negotiate with their landlord, or to find alternative housing — it is logical and compassionate."
As the fast-paced local housing market puts pressure on rentals, some Miami Beach residents have complained of substantial rent hikes with little or no notice from their landlords, leaving them scrambling to find suitable housing at a price they can afford.
The measure applies to residential leases that are expiring after a set period, such as 12 months. It also applies to tenancies without a set duration such as month-to-month tenancies.
If the required written notice has been provided by the landlord, then the tenant has 30 days to agree to the proposed rent increase or to negotiate an acceptable compromise. If the tenant does neither within 30 days of receiving the notice, the landlord may proceed with the increase at the end of the 60-day period or require the tenant to move.
Based on Zillow's most recent market report, the average monthly rent in the Miami/Fort Lauderdale metro area is about $2,500, up 29 % since last year, giving the area the fastest rising rent appreciation in the country.
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