The monthly rent for anyone living in a Santa Monica rent-control apartment cannot be raised by more than $40 starting September 1. The Rent Control Board voted unanimously to pass the dollar amount cap during their July 8 public meeting.

Back in May, the Board set the 2017 General Adjustment at two percent. The adjustment is calculated to be 75 percent of the annual change in the Consumer Price Index for the greater Los Angeles area which the Bureau of Labor Statistics reported was 2.7 percent. Rent Control tenants saw their rents rise by 1.3 percent last year.

Read More: http://smdp.com/rent-control-increases-capped-by-board-at-just-40/161310