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City Council Approves Ballot Measure to Establish a 3% Cap on Rent Increases

08/05/2022 9:13 AM | Margaret Fulton (Administrator)

At last night’s meeting, the Santa Monica City Council approved a resolution to place a measure on the November 8, 2022 ballot that would amend the City Charter to establish for 2022 an average General Adjustment (GA) cap of 3% or $70 and establish a maximum GA of 3% for future years.

This measure will support tenants of rent-controlled units who will be impacted by the 6% rent increase GA that will take effect September 1, 2022, as outlined in the City Charter. A Housing Needs Survey was distributed to Santa Monicans in June 2022 to better understand the impacts of the 6% increase on residents and help the City target its use of $2.2 million in allocated federal HOME American Rescue Plan funds and $750,000 in Council-approved funds to support those most vulnerable to the increase.

Read More: https://www.santamonica.gov/press/2022/08/04/city-council-approves-ballot-measure-to-establish-a-3-cap-on-rent-increases-for-rent-controlled-units

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