The Oaklandside: Oakland rent increases would be capped at 3% under new proposal
One week after Oakland announced that owners of rent-controlled properties will be permitted to raise rents by as high as 6.7% this year, a city official has countered with legislation that would permanently cap increases at 3%.
Many tenants were stunned last week to hear that they could face the highest permitted rent increase in decades. Each year, landlords of rent-controlled buildings are allowed to raise rents by a certain percentage. Oakland determines that percentage based on the regional consumer price index (CPI), or inflation.
