AZ HB2718

Caps annual residential rent increases at the Consumer Price Index rate plus 3%, with a maximum total increase of 7% per year.

Requires the Office of Economic Opportunity to provide the annual CPI percentage to the Arizona Department of Housing for calculating permissible rent increases.

Directs the Arizona Department of Housing to calculate allowable rent increases upon request and investigate tenant complaints, referring probable violations to the Attorney General as unlawful practices.

Exempts newly-built dwelling units from rent increase limits for the first 36 months after receiving an initial certificate of occupancy.

Includes a sunset provision repealing the rent increase caps effective December 31, 2032.