The Rent Stabilization Board shall study local problems and issues relating to landlord-tenant relations, supply information to the public and advise the Mayor and City Council from time to time or as requested on any such issue as may concern the conduct of City government.
Current Allowable Increase
The current allowable increase for leases expiring between January 1, 2023 through June 30, 2023 is seven point nine percent (7.9%).
According to Chapter 222 of the City Code, Rent Index is defined as the statistical index governing rent increases. The rent index shall be subject to change every six months commencing with January 1 and July 1 of each year, and shall remain unchanged during each six-month period. The rent index shall be computed by taking the twelve-month average of the United States Housing Component of the Consumer Price Index-U for Rent (Residential) immediately preceding the beginning of each six-month period.