December 9, 2017
Community Services Building
440 Civic Center Plaza
City Council Chambers
Richmond, CA 94804
Richmond Rent Program Community Workshop
Saturday, December 9, 2017
Community Education Workshops - Setting Standards for Changes in the Maximum Rent
For most multifamily rental properties in the City of Richmond, rent increases are limited to the annual change in the Consumer Price Index
(a measure of inflation).
In the coming months, the Rent Board will establish standards for allowing individual rent increases and decreases due to a rental unit’s conditions, historic rental rates, operating costs, and other reasons.
All are invited to attend and provide feedback on topics such as (but not limited to):
• Rules and standards for increasing or decreasing rents for rent-controlled rental units
• How the Rent Board defines a “fair rate of return” on rental property investments
• Calculating rent reductions due to problems with the rental unit (pests, broken appliances, etc.)