A proposed suite of renter protections appears headed for a razor-thin victory in Tacoma as Pierce County continues to count the final ballots.

Initiative Measure No. 1 leads by less than 1%, with 50.4% of voters currently favoring the measure, according to the latest tally of votes released Monday.

Backed by the Democratic Socialists of America, labor unions and progressive organizations, the initiative would require more advance notice of rent hikes, limit evictions during the winter months and school year, cap move-in fees and late fees, and require landlords to pay relocation assistance after certain rent hikes. Supporters said the rules would help restore balance between tenants struggling with rising housing costs and their landlords.

Landlords and Realtors mounted a $371,000 opposition campaign, arguing the regulations were unfair to small-time landlords and could decrease the city stock of rental housing.

The measure trailed in initial ballot returns on election night, then pushed ahead Thursday, leading by 470 votes. That lead narrowed Monday to 332 votes.

Pierce County estimates about 350 ballots left to count countywide and 50 left in Tacoma. That does not include ballots that were mailed on time but the elections office has not yet received or those dropped in drop boxes in other counties and still en route to Pierce County, Elections Manager Kyle Haugh said in an email Monday.

Another 186 Tacoma ballots were unsigned or have challenged signatures. Haugh estimated that about 40% of those may be counted.

The Seattle Times has not yet called the race.