A. For annual increases effective on any date between May 31, 1979, and May 30, 1980, inclusive, no such increase shall exceed an amount computed in accordance with the latest published figure reflecting the increase for a twelve (12) month period in the Urban All Items Consumer Price Index (CPI) for Los Angeles (or any successor equivalent), as published by the United States Department of Labor, Bureau of Labor Statistics. The proper method for computing such an increase in the CPI shall be as follows: The latest published CPI figure shall be added along with such figures for the preceding eleven (11) individual months, and, from the sum reached, there shall be deducted the sum of such figures for the twelve (12) months further preceding the last such twelve (12) months. That remainder shall then be divided by the lower of the two (2) sums heretofore mentioned, and the resulting figure shall indicate the permissible maximum percentage by which the base rent may be increased by virtue of the rise in the CPI.
B. For annual increases effective on any date between May 31, 1980, and December 14, 1981, inclusive, no such increase shall exceed a maximum of eight percent (8%).
C. For annual increases effective on or after December 15, 1981, no such increase shall exceed eight percent (8%) or the CPI as of the date of the notice of increase, computed pursuant to subsection A of this section, whichever is less.
D. Any security deposit lawfully imposed by the landlord on a tenant may be increased by the same percentage as the base rent may be increased, in accordance with the provisions of this section, at such time as the base rent is recomputed.
E. A landlord who is not in substantial compliance with any of the provisions of section 4-5-801 of this chapter shall not demand, accept or retain the annual rent increase otherwise permitted by this section. (1962 Code § 11-3.03; amd. 1988 Code; Ord. 17-O-2745, eff. 1-19-2018)