I had an opportunity to share some thoughts on channel 5 KPIX news over the weekend regarding California Gov. Gavin Newsom’s deal that would cap annual rent increases at 5% plus inflation, with a 10% maximum increase.
The city of Alameda has taken it a step further by capping the annual rent increase to 2.8%. For departing tenants, the current relocation formula provides a tenant with the equivalent of one month’s rent for each year the tenant has resided in a unit, capped at four years, plus moving expenses, which is currently set at $1,665.
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