Our Take on the 5.9% Chapter 5 Rent Increase
City Council has approved a maximum allowable annual rent increase for Chapter 5 rent-stabilized tenants that is the highest percentage in three decades. At 5.9% it is nearly twice the rate of inflation for our region and it will fall hardest on our longest-term renting households that are almost exclusively headed by seniors who live on a fixed-income. Meanwhile these households are also exposed to a variety of possible pass-through surcharges (including for seismic retrofit). What are our councilmembers thinking?
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