In 2024, tenants in South Carolina should be aware of the following key points regarding rent increase laws:
Current Legal Framework
- No Statewide Rent Control: South Carolina does not have statewide rent control laws. This means that landlords can generally set rent based on market rates without a legal cap on increases.
- Proposed Legislation: The South Carolina Rent Control Act (Bill 3264), introduced in 2021, aims to limit annual rent increases to 7% plus the Consumer Price Index (CPI). However, this bill has not yet been passed into law. If enacted, it would provide more stability for renters by capping how much landlords can increase rent annually.
Rent Increase Guidelines
- First-Year Restrictions: Landlords cannot raise rent during the first year of a lease. After the initial period, they may increase rent only once per year.
- Notice Requirements: Landlords must provide tenants with 90 days written notice before any rent increase after the first year of tenancy. For month-to-month leases, a 30-day notice is typically required.
Maximum Rent Increase Calculation
- Allowed Increases: If the proposed legislation were in effect, landlords could increase rent by a maximum of 7% plus the CPI each year. For example, if the CPI is 3%, a landlord could raise the rent by up to 10% (7% + 3%).
- Penalties for Violations: If landlords exceed these limits, they could be liable for triple the amount charged over the legal limit, along with possible legal fees.
Tenant Protections
- Discrimination and Retaliation: It is illegal for landlords to raise rent in retaliation against tenants for exercising their rights (e.g., filing complaints). Tenants have legal recourse if they believe their rent increase is discriminatory or retaliatory.
Conclusion
While South Carolina currently lacks strict rent control measures, proposed legislation seeks to introduce limits on annual increases. Tenants should remain informed about their rights and the requirements for notice periods regarding any potential rent hikes.
Keeping an eye on legislative developments related to Bill 3264 will be crucial for understanding future protections and regulations regarding rental agreements in the state.
SOURCES:-
- https://www.hemlane.com/resources/south-carolina-rent-control-laws/
- https://www.steadily.com/blog/rent-increase-laws-regulations-south-carolina
- https://www.steadily.com/blog/how-much-can-a-landlord-raise-rent-in-south-carolina
