San Francisco Rent Board Announces Annual Increases for 2014

Rent Board Announces Annual Increases for 2014

 
The San Francisco City and County Rent Board has announced its annual allowable rent increase (for units subject to rent control) and interest rate deposits for the new year.
 
Effective March 1, 2014 through February 28, 2015, the allowable annual increase amount is 1.0%.

The amount is based on 60% of the percentage increase in the Consumer Price Index (CPI) for All Urban Consumers in the San Francisco-Oakland-San Jose region for the 12-month period ending October 31, which was 1.6% as posted in November 2013 by the Bureau of Labor Statis-tics. To calculate the dollar amount of the new 1% annu-al rent increase, landlords should multiply the tenant's base rent by .010. For exam-ple, if the tenant's base rent is $1,250.00, the annual in-crease would be calculated as follows: $1,250.00 x .010 = $12.50. The tenant's new base rent would be $1,262.50 ($1,250.00 + $12.50 = $1,262.50).

Visit the Rent Board website to learn more

 

 

  David Ames 

  Top Producer 

 

  DavidAmes@zephyrsf.com

  (415) 271-2071

Comment balloon 8 commentsDavid Ames • January 22 2014 12:06PM

Comments

Thanks for posting this essential information that every landlord needs to know to avoid racking up any liabilities.

Posted by Melanie Narducci, Your San FranciscoBay Area Real Estate Expert (Hillscape Properties, Inc.) over 4 years ago

Oh my. Our annual rent increase is 4% and what that is based on I have no idea. Certainly not the cost of living.

Posted by Jane Peters, Connecting you to the L.A. real estate market (Home Jane Realty) over 4 years ago

We don't have a rent cap for any homeonwers that I'm aware of.  We've had zero% interest on deposits for a long time.

Posted by Cindy Jones, Pentagon, Fort Belvoir & Quantico Real Estate News (Integrity Real Estate Group) over 4 years ago

@ Melanie: my pleasure, and I agree.

@ Jane: I know a lot of SF Landlords that would love to be able to increase by 4%, but that won't happen any time soon.

@ Cindy: This only applies to units that fall under the Rent Control ordinance. 

Posted by David Ames, San Francisco (Zephyr Real Estate, San Francisco) over 4 years ago

David, I find it interesting that, as recently as 2008-2009, 5% increases were allowed.

Posted by Lottie Kendall, Serving San Mateo County and San Francisco (Today | Sotheby's International Realty) over 4 years ago

@ Lottie: That's actually the interest rate figure for deposits (on the left).  Sorry for any confusion.  The 2008 rent increases were actually 2%.  :)

Posted by David Ames, San Francisco (Zephyr Real Estate, San Francisco) over 4 years ago

Of course--I looked too quickly. I had seen the charts for both yesterday. It's still interesting that interest paid was 5% - I don't think I was earning that in my bank account!

Posted by Lottie Kendall, Serving San Mateo County and San Francisco (Today | Sotheby's International Realty) over 4 years ago

@ Lottie: I guarantee you weren't!

Posted by David Ames, San Francisco (Zephyr Real Estate, San Francisco) over 4 years ago

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