(A) Until such times as this chapter is no longer deemed necessary by the City Council, and approved by the majority of the voters of the city, no landlord of any mobile home space covered by this chapter shall request, demand or receive a rent increase in excess of three-fourth of the increase of the cost of living as indicated in the Consumer Price Index. The increase shall be calculated from the base rent date, which is defined for the purposes of this chapter as the monthly rent charged on April 1, 1983, except if the space was vacant or not yet completed as of April 1, 1983, the base rent shall be the monthly rent charged when the unit first became occupied after April 1, 1983. No landlord shall be entitled to more than one such rent increase in any 12-month period. As used herein the term
CONSUMER PRICE INDEX shall mean that
portion of the Consumer Price Index published by the United States Department of Labor for the Los Angeles- Long Beach-Anaheim Metropolitan Area, designated as “All Urban Consumer, All Items, 1967=100.” Computation of rent increases allowable by this chapter shall be in accordance to the following formula:
(1) STEP 1. Multiply the “annual percentage change in the Consumer Price Index” by .75. The resulting figure is the allowable annual percentage rent increase, expressed in decimal figures.
(2) STEP 2. Multiply the allowable annual percentage rent increase by the base rent. The resulting figure is the allowable monthly rent increase for the coming year, expressed in dollars.
(3) STEP 3. To obtain the maximum allowable monthly space rent, add the allowable monthly rent increase (expressed in dollars) to the current rent. The resulting figure is the maximum allowable monthly space rent that the mobile home park owner may charge for the following 12 months on any mobile home space covered by this chapter.
(B) Beginning 90 days after this chapter becomes effective, no landlord shall request, demand or receive any rent in excess of the base rent plus any increase allowable under this section calculated from the base rent date which is April 1, 1983.
(C) At the landlord's option, for bookkeeping convenience, the rent (base rent plus allowable increase) may be rounded to the nearest dollar, provided such adjustment is made for all mobile home spaces included in any group of mobile home spaces.
(Ord. 892, passed 4-4-84)