Bill description: HB 459 amends Idaho Code to provide specific time frames for written notice of rent increases higher than 10%, and the intention to not renew a lease.
Does it give government any new, additional, or expanded power to prohibit, restrict, or regulate activities in the free market?
HB 459 adds language that would require landlords of residential property to give tenants at least a 45-day notice if they intend to increase rent by more than 10% or not renew the current lease when it expires. This requirement would apply only to a lease that is at least 12 months long.
In the case of a month-to-month lease, a landlord would have to give 30-day written notice for an increase in rent that would represent an aggregate of 10% over a 12 month period.
There is no grandfather provision that would exclude existing rental agreements that include a shorter notification period, currently agreed to by both landlord and tenant.
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