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Rent control committee caps rent increases at 2.9% for 2020

Original post made on May 21, 2020

Mountain View's Rental Housing Committee voted 5-0 this month to set the annual cap on rent increases to 2.9%, the lowest maximum increase allowed since the city's rent control law took effect in 2016.

Read the full story here Web Link posted Wednesday, May 20, 2020, 3:16 PM

Comments (4)

6 people like this
Posted by Dan Waylonis
a resident of Jackson Park
on May 21, 2020 at 3:15 pm

Landlords needs to become more savvy like the government. Instead of "rent", start adding "usage fees" and "COVID-19 tax" to the monthly bill.

6 people like this
Posted by Libertarians
a resident of Jackson Park
on May 21, 2020 at 3:42 pm

What's funny, Dan, is that all of us have plenty of experience with hidden fees and surcharges, and we all know where they come from: private corporations. Cell phone service, cable, online ticketing "convenience fees". Only a kneejerk Libertarian would be deluded enough to think otherwise.

Like this comment
Posted by sfcanative
a resident of Whisman Station
on May 21, 2020 at 9:32 pm

Now that Facebook and Google have essentially given the green light for half of their workforce to never return to Silicon Valley, one can only imagine the exodus that is bound to occur in Santa Clara County as people wise up to the benefits of living in a less populated area and less restrictive state. Hello vacancy rate over 5% suspending CSFRA!

Rents are reportedly down 5% while landlords get a measly 2.9% increase. Sounds to me like we can stop worrying about a housing shortage and start enjoying the downturn.

9 people like this
Posted by Vacancy Decontrol
a resident of Blossom Valley
on May 21, 2020 at 10:09 pm

MV's rent control law only applies to some units built before 1995 and not (initially) to units that turn over. It is called VACANCY DECONTROL and was and remains mandated by state law. How do landlords make more money on units that turn over? By raising the rent through the roof. Take a landlord with 100 units subject to MV's rent control. Say rents average $3,000 per unit per month. That is $300,000 per month or $3.6 million each year (not deducting for temporary vacancies). Suppose in the next year, 25 units turn over. The landlord then raises those rents to say $4,500 - an extra $1,500 from 25 units would be $37,500 per month or $448,500 per year. That is above and beyond the 3% increase under rent control for the other 75 units. For landlords with many units, vacancy decontrol is an extra GOLD MINE.

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