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Question about Seattle's new rental cap ordinance and older buildings
I read on the city site that the 10% annual rent increase cap exempts units built in the last 15 years, but my landlord on Capitol Hill used that to jump my rent $280 after a tenant moved out. Everyone I talk to says this law helps, but it seems like a loophole that pushes long-term folks out of older, cheaper spots like the ones near the light rail. Is anyone else seeing landlords use vacancy to reset prices way past what the cap allows, or am I reading the exemption wrong?
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