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No elected incumbents to run for Rent Control Board in November
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Rent control increases capped by Board - Santa Monica Daily Press
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Rent Board announces general adjustment effective September
May. 24, 2021 at 6:00 am
Rent increases for rent-controlled apartments in Santa Monica will be limited to a 1.7 percent increase this year following a vote by Santa Monica’s Rent Control Board last week.
The proposed adjustment is set to go into effect on Sept. 1, but there will be a public hearing that will allow landlords and tenants an opportunity to share their thoughts on the increase prior to the adjustment taking effect, according to Executive Director Tracy Condon.
“Under the rent control law, the general adjustment for a given year is equal to 75% of the change in the Consumer Price Index for the Los Angeles area for the 12-month period between March of the previous year and March of the current year,” Condon said last Thursday. “Using that formula, with the CPI for that period of 2.2 percent, 75 percent of that is 1.65 percent.”