Revises provisions relating to manufactured home parks. (BDR 10-958)
By establishing a cap on annual rent increases, SB275 aims to provide better protections for tenants living in manufactured home parks. The introduction of a published maximum rent increase percentage is intended to limit arbitrary or excessive rent hikes, fostering a more stable housing environment. Additionally, the bill allows landlords to apply for exemptions if their operational costs exceed what they can earn from the rent under the cap, which introduces a level of flexibility while still protecting tenant interests.
Senate Bill No. 275 proposes significant amendments to the laws governing manufactured home parks in Nevada. The bill mandates that the Housing Division of the Department of Business and Industry calculates and publishes an annual maximum rent increase percentage for manufactured home parks. This percentage is based on 60% of the May annual 12-month average change in the Consumer Price Index for All Urban Consumers for the West Region. Moreover, landlords can only increase rent for month-to-month tenancies up to this calculated percentage, along with allowable pass-through expenses, which ensure that increases remain within a regulated framework.
Points of contention surrounding SB275 could stem from concerns among landlords regarding potential limitations on their income relative to the costs of maintaining properties, especially in light of rising operational expenses and inflation. The requirement for landlords to provide significant financial documentation for exemption applications could also be viewed as burdensome. Proponents of the bill argue that these measures are necessary for tenant protection, while opponents might argue that they impose unfair restrictions on landlords' ability to manage their properties effectively.