SF Chronicle: Oakland limits rent increases to 3% for rent-controlled apartments
Oakland officials on Tuesday evening capped rent increases at 3% for rent-controlled apartments, effectively preventing landlords from raising rents by 6.7% starting in July, which had been on track to be one of the highest one-year rent increases in the city’s history.
The City Council voted 6-1 for an ordinance to restrain the rent increase, with Noel Gallo voting against the proposal and Loren Taylor abstaining,
The move came amid strong support from tenants rights advocates who said a massive rent increase could have a catastrophic impact on a city grappling with a rising homelessness crisis as many residents try to emerge from the pandemic downturn.
The ordinance, introduced by Council Member Carroll Fife, changes Oakland’s rent increase formula to factor in 60% of the rise or fall in the Consumer Price Index, or limit rent hikes to a maximum 3% annually, whichever is lower. Last year’s rent hike, coming as many struggled to stay afloat during job losses and economic hardship wrought by the coronavirus pandemic, was 1.9%.
