Oakland Post: City Council Saves Oakland from Largest Annual Rent Increase in City’s History
The Oakland City Council took a bold action this week to protect tenants from a huge increase in rents this year, which without council action was set to be one of the largest annual rent increases in city history.
Under the new ordinance, passed Tuesday, a proposed 6.7% allowable rent increase was reduced to a maximum of 3%.
The ordinance, introduced by Councilmember Carroll Fife, passed the Council Tuesday with six votes. Councilmember Noel Gallo voted no, and Councilmember Loren Taylor, a candidate for mayor, abstained.
“With gas prices nearing $7/gallon, the increased costs of food and everyday expenses, I could not, in good conscience, allow this exorbitant spike to take effect,” said Fife in an email newsletter.
“Thousands of Oakland residents will rest a little easier knowing their housing is secure,” she continued. “I’m grateful for my policy staff as well as city staff and attorneys who moved with urgency to bring this ordinance forward before it was able to do serious and irreparable harm.”
