Rent increases for rent controlled units will be limited to 2% this year with a maximum monthly increase of $44.
Rent control increases are governed by formulas in the City Charter and while the Rent Control Board has no control over the percentage increase they do have a choice when setting the additional dollar cap. The board unanimously approved the increases at their June meeting and only one individual spoke about the decision.
Local landlord David Miller said the dollar cap deprived landlords of necessary income to maintain units and would encourage small operators to sell to developers.
“The main thing that imposing this arbitrary cap on top of a sub-inflationary annual adjustment is just to deny housing providers the money they need to maintain their aging buildings and an ancillary effect of imposing the cap is to encourage mom and pop housing providers like me to sell their buildings, often to developers,” he said.