Examples of CPI Rent Adjustment in a sentence
Beginning in 2002, the CPI Rent Adjustment is the average of the percentage increase in the CPI—All items and the CPI—Less shelter for the twelve (12) month period starting on March 1 of each calendar year and ending on the last day of February of the following calendar year calculated to the nearest one tenth of one percent.
An owner may notice a rent increase for a CPI Rent Adjustment so that the rent increase is effective during the period from July 1 following the Rent Adjustment Program's announcement of the annual CPI Rent Adjustment through June 30 of the next year.
Regulations regarding the justifications for a Rent increase in excess of the CPI Rent Adjustment are attached as Appendix A to these Regulations.
Each subsequent CPI rental adjustment shall be by reference to the CPI in effect at the time of the prior CPI Rent Adjustment Date.
In accordance with rules set out in the regulations, an owner may bank CPI rent adjustments and annual permissible rent adjustments previously authorized by this Chapter and notice a Banking Rent increase concurrent with a CPI Rent Adjustment.
The rent so calculated shall be the monthly rent for each month during the one (1) year period from each CPI Rent Adjustment Date until the next CPI Rent Adjustment Date, FRV Rent Adjustment Date (as defined in Section 3.1(C)) or Termination Date, payable monthly in advance, beginning on the first day of each and every month during each such one (1) year period.
This section sets forth the regulations for a Rent adjustment exceeding the CPI Rent Adjustment and that is not authorized as an allowable increase following certain vacancies.
Any notice of rent increase served during the Local Emergency shall include the following statement in bold underlined 12-point font: “During the Local Emergency declared by the City of Oakland in response to the COVID-19 pandemic, your rent may not be increased in excess of the CPI Rent Adjustment (3.5% until June 30, 2020), unless required for the landlord to obtain a fair return.
For rental units regulated by Oakland Municipal Code 8.22.010 et seq, no any notice of rent increase in excess of the CPI Rent Adjustment, as defined in Oakland Municipal Code Section 8.22.020, shall be effective if the notice is served or expires void and unenforceable if the notice is served or has an effective date during the Local Emergency, unless required to provide a fair return.
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