Santa Monica : Board OKs 3% Annual Rent Hike
The Rent Control Board has unanimously approved an annual rent increase of 3% for tenants in Santa Monica. The board at last week’s meeting also agreed to allow landlords who pay for utilities to raise rents by an additional 1.5%.
Tenants generally supported the plan, which takes effect Sept. 1. But landlords, who have complained that rent increases are running behind the rate of inflation, maintained that the rent hike was too low.