The Allowed Annual Rent Increase in Perspective

To a tenant accustomed to the 3% cap on annual allowed rent increases, the city’s announcement that the allowance has risen to 4.1% was a surprise both that the 3% changed and for the magnitude of the jump. As I explained in a recent post, the bump-up was somewhat predictable given higher inflation but the size of the jump was larger than most of us expected. The culprit? Rising consumer costs driven in part by rising rents!

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