Rent increases for rent-controlled apartments in Santa Monica will be limited to 1.4% this year and the Rent Control Board could approve a maximum monthly increase of $32 for renters who pay $2,250 or more in rent.

The proposed rent adjustment, which will go into effect Sept. 1, is slightly less than last year’s 2% increase and $44 cap. The percentage increase the board approves each year is determined by a formula in the city charter, but the board may also choose to set a dollar increase cap based on a separate formula. The Rent Control Board will vote on the dollar increase next month.

Read More: https://www.smdp.com/rent-control-cap-2020/191105