Information for Owners and Property Managers of ARO Units
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a. reduces the annual allowable rent increase from 8% to 5%;
b. reduces the amount of rent increase a hearing officer may impose on top of capital improvement pass
through from 5% to 2%;
c. establishes a fair return petition process and standard effective after September 1, 2016; and
d. provides that other petitions for rent increases in excess of 5% may not be filed after September 1, 2016.
3. When will the changes become effective?
4. How long will the Interim Ordinance be in effect?
5. Where can I find the Interim Ordinance that was approved by the City Council?
6. Where can I find the entire ARO?
8. How much notice do I need to give my tenants if I want to raise their rents?
9. I raised rents 8% effective on June 1, 2016. Is that allowed?
10. On May 1, 2016 I sent a notice that informed tenants I was going to raise rents 8% effective on June 30, 2016. Is that allowed? Do I need to roll back the rents?
11. I have not raised my tenant’s rent since June 2013, but I gave notice of a 21% rent increase in April 2016. Is that allowed?
12. When does the debt-service pass-through go away?
14. I have a debt-service pass-through pending at my building but some of related the rent increases cannot take effect until October 1, 2016 because the last increase given to the tenant was on Oct. 1, 2015. Is this pass through now not allowed or can I petition for it now and as long as I file the petition before Sept. 1, 2016 it will be considered?
15. When does the existing capital improvement pass-through process go away?
16. When does the process for the other non-debt service pass-throughs go away?
17. What is maintenance of net operating income? (MNOI)?
18. When does the fair return process begin? How does the fair return process work?
19. How does the fair return petition process work?