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City of Santa Monica Rent Increase Time Again!

City of Santa Monica 

Rent Increase Time Again!

 

THE ANNUAL INCREASE PERCENTAGE is 2.9% EFFECTIVE September 1, 2018 THROUGH August 31, 2019 . The maximum increase cannot exceed $60.00. School District Parcel Tax cannot exceed $35.00. Please remember to calculate the Increase on the 2017-2018 MAR (Maximum Allowable Rent). Take the full rent that the tenant has been paying and deduct the last year’s allowable pass thru fees and surcharges. Owners must pay the Rent Control registration fees by July 31st in order to pass thru an $8.25 monthly portion of the fees to the tenants.

 

IMPORTANT, Owners must serve each tenant a copy of your property tax bill in order to pass thru the tenant’s share of the property tax surcharges. We recommend that you attach a copy of the property tax bill to your rent increase form and prepare a proof of service for your file.

 

If you need a rent increase form or a proof of service form please call us or send an email and we can send it to you. Feel free to contact us with any questions or if you need help filling out the forms.

 

Costa Hawkins is under attack. Many brokers and Associations have been sending out scary blasts. While the threat is real, as active participants in the passage of Costa Hawkins we have the latest information in real time. 

Call us to discuss strategy that we cannot print.