Rent Control Board Approves 1.54 Percent Adjustment; Seminar Set For July 10
Posted Jun. 25, 2012, 6:11 am
The Santa Monica Rent Control Board earlier this month approved 1.54 percent General Adjustment, meaning tenants can expect an increase of up to $26 a month.
Following a public hearing on June 14, the Rent Control Board approved the increase to Maximum Allowable Rents (MARs) effective this September.
It also capped the amount of the increase at $26, exclusive of registration fees and surcharges.
This means tenants who have been in their units for at least a year may receive notice that their rents are going up effective September 1.
For tenants with MARs of $1,655 or less, the maximum increase is 1.54 percent, and for tenants whose MARs are $1,656 or higher, the increase is $26. All tenants and owners will be mailed details of this year’s General Adjustment in the coming weeks.
A seminar will be held on Tuesday, July 10 to help residents calculate their rent increase.
It will be held from 6:30 p.m. to 9 p.m. at Santa Monica Library main branch (601 Santa Monica Boulevard) in the multipurpose room on the second floor.
Registration is required. Phone 310.458.8751 or visit http://www.smgov.net/rentcontrol.