Should San Francisco Rent Control Be Changed or Abolished?
This article by the Bay Citizen journalist, Scott James, brings up some interesting points about rent control laws in San Francisco. When rent increases are limited each year to below the inflation factor, yet the costs to the landlords to maintain the building rise at a steeper climb than the rents, it makes it difficult for small-building landlords to pay the taxes and keep the buildings in good shape.
Do the artificially low rents end up subsidizing renters who can afford market rate rents?
The question is raised, should rent control laws be means tested by income levels?
… a new city analysis shows that for the first time upper-income households (annual incomes over $107,000) outnumber the poor (incomes under $35,000), 29 percent to 27 percent. From www.baycitizen.org
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If you’re a landlord of a small building, how do you feel about rent control?
If you’re a tenant, have your say here too.
SF Rent Board Announces Annual Rent Increase
Every year, the SF Rent Board calculates the amount landlords can increase rent on rent-controlled properties. Effective March 1, 2012 through February 28, 2013, the allowable annual increase amount is 1.9 percent.
To calculate the dollar amount of the 1.9 percent annual rent increase, multiply the tenant’s base rent by .019. For example, if the tenant’s base rent is $1,250.00, the annual increase would be calculated as follows: $1,250.00 x .019 = $23.75. The tenant’s new base rent would be $1,273.75 ($1,250.00 + $23.75 = $1,273.75).
The Rent Board has yet to announce the interest rate payable on security deposits for the 3/1/12 – 2/28/13 period.