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Meeting: Regular City Council Meeting

Meeting Time: August 15, 2022 at 6:00pm PDT
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Agenda Item

4.C. UPDATE REGARDING CALCULATION OF THE ANNUAL GENERAL ADJUSTMENT AND CONSIDERATION OF ADOPTING A SUNSET DATE TO APPLY TO THE CURRENT RENT INCREASE FREEZE DUE TO THE DECLARED LOCAL EMERGENCY AND MODIFICATION TO THE ANNUAL GENERAL ADJUSTMENT [C. SCHROEDER, J. HOLUB, L. LANGER]: SUBJECT: The City Council will review the recently announced Annual General Adjustment (AGA) of 6.00% and consider directing staff to return with an ordinance applying a sunset date to the current rent increase freeze for rent stabilized properties and implementing a modified AGA of 3.00%.

STAFF REPORT ITEM 4.C. - ATTACHMENT A CORRESPONDENCE - 8.12.22 CORRESPONDENCE - 8.15.22 CORRESPONDENCE - 8.15.22 (Afternoon)
2 Public Comments
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    Larry Dickman about 2 years ago

    4C Reports there is no fiscal impact to the city, this seems incorrect. As landlords continue to be denied fundamental rights to earn a living, there is a great likelihood the city faces potentially expensive legal challenges from landlords.

  • Default_avatar
    William Stifel about 2 years ago

    The suggested 3% increase is not realistic and I am very concerned about the conclusions that were drawn from the report.
    Based on the latest inflation report, the allowable 2022 rent increase proposed in Weho’s 4.C. report will grossly exacerbate financial problems for landlords, the increase needs to be the maximum 6%.
    Some landlords are starting to looking into litigation/non-compliance options due to lack of options, communication from the city and seeming abuse of power.