Banked amount means the dollar amount of an annual rent increase allowance that a landlord did not use to increase the rent for a regulated unit.
Base rent means rent charged for a regulated rental unit under a lease, exclusive of any rental discounts, incentives, concessions, or credits that are:
(1) offered by the landlord;
(2) accepted by the tenant; and
(3) itemized in the lease separate from the rent.
Capital improvements mean permanent structural alterations to a regulated unit intended to enhance the value of the unit. Capital improvements include structural alterations required under federal, state, or County law. Capital improvements do not include ordinary repair or maintenance of existing structures.
CPI-U means the Consumer Price Index for All Urban Consumers for the Washington-Arlington-Alexandria Area, published by the U.S. Bureau of Labor Statistics.
Regulated rental unit or regulated unit means a rental unit that is not exempted under Section 29-60.
Substantial renovation means permanent alterations to a building that:
(1) are intended to enhance the value of the building; and
(2) cost an amount equal to at least 40 percent of the value of the building, as assessed by the State Department of Assessments and Taxation. (2023 L.M.C., ch. 22. § 1.)