Santa Monica : 3.5% Rent Increase Urged
Rent control officials are recommending that rents be allowed to go up 3.5% this year, slightly more than last year’s increase but below the national average of rising rents.
The 3.5% increase will be the subject of a public hearing tonight at 7:30 at a Rent Control Board meeting in City Hall.
Under Santa Monica’s strict rent control law, the board votes on an annual increase that landlords are allowed to begin charging in September. The increase last year was 3% and has averaged about 4% each year since rent control was enacted a decade ago.
Nationally over the same period, rents have risen an average of 6.5% per year, according to a 1987 study.
The average rent in Santa Monica is $480, according to the rent control agency.
If the 3.5% increase is approved, landlords must notify their tenants in writing and certify that there are no outstanding citations or uncorrected building code violations against the property.
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