Rent Increase for July 1, 2008
Monday, March 31st, 2008Question:
My property is in the city of Los Angeles and is subject to rent control. I know that the rent increase for July 1, 2007 was 5%. Has the city decided what the increase will be for July 1, 2008?
Answer:
Yes they have. The City, in their ultimate wisdom, has decided to lower the rent increase to 3% effective July 1, 2008. This decision was made behind closed doors without any discussion from the apartment industry.
Author
~Dennis Block: Source