ACTION Apartment Association - Santa Monica Rent Control Board Raises Allowable Rent Increases by 2.9 Percent

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Santa Monica Rent Control Board Raises Allowable Rent Increases by 2.9 Percent

Santa Monica Rent Control Board Raises Allowable Rent Increases by 2.9 Percent

05/16/2018 6:01 PM | Margaret Fulton (Administrator)

May 15, 2018 -- The Santa Monica Rent Control Board last week raised the amount landlords under rent control can charge tenants by 2.9 percent.

At its Thursday meeting, the board voted for the adjustment, which is based in the City Charter on 75 percent of the rate of inflation for the Los Angeles, Riverside and Orange counties region which was 3.8 percent.

Landlords can add the rent increase starting September 1.

The board will hold a public hearing on June 14 before deciding whether to also impose a dollar amount ceiling on the rent adjustment, as per the City Charter.

It is proposing a maximum increase of $60 to all units with rents of $2,087 and above.