Rent Control Increase Capped at $60

Rent Control Increase Capped at $60

2018-06-27T17:08:08-07:00June 27th, 2018|Advocacy, Local Updates, Santa Monica|

Santa Monica:

“The rent control board has capped rent increases $60 a month following a brief hearing last week.

Increases for rent-controlled units are subject to two caps: a percentage and a fixed dollar amount. The percentage is mandated by the city’s rent control rules and is determined by a fixed formula that yielded at 2.9 percent increase for this year. The board is not required to establish a dollar limit but can do so utilizing a separate formula that yields a $60 cap this year.

Under the City’s rules, rent-controlled tenants will pay either a 2.9 percent increase or $60, whichever is lower.”

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