This Rent Stabilization chapter allows for an annual adjustment of residential real property rent of up to the lesser of 3% or 60% of the Consumer Price Index for All Urban Consumers in the San Francisco-Oakland-Hayward Area published by the Bureau of Labor Statistics pursuant to § 11-3.04. Such an increase is found and determined to provide a just and reasonable return on a landlord's property, and has been adopted to encourage good management, reward efficiency, and discourage the flight of capital, as well as to be commensurate with returns on comparable investments, but not so high as to defeat the purpose of curtailing excessive rents and rental increases. Notwithstanding the foregoing, any landlord who contends that the limit on rental increases set forth in § 11-3.04 will prevent the landlord from receiving a fair and reasonable return on the property may petition for relief from the limit set forth in § 11-3.04 pursuant to the procedures set forth in § 11-3.07.
(Ord. 2219-C-S, passed 10-11-22; Am. Ord. 2227-C-S, passed 6-27-2023)