See article published in Berkeleyside on May 8, 2020 discussing this rent strike.
The article mentions passing repair costs on to tenants. There is a little known landlord program in Oakland allows the owner to pass along capital improvement costs plus the interest on a loan to underwrite those costs to the tenants.
Published on the Oakland Rent Adjustment website is the following:
"Capital improvements include improvements to the property. A landlord may apply a rent increase to reimburse themselves for property improvements that benefit the tenants. Reimbursement is limited to 70% of the cost of the improvement amortized over its useful life. Property owners must also show that these costs were paid. Examples include: copies of receipts, invoices, bid contracts or other documentation."
Published on the Oakland Rent Adjustment website is the following:
"Capital improvements include improvements to the property. A landlord may apply a rent increase to reimburse themselves for property improvements that benefit the tenants. Reimbursement is limited to 70% of the cost of the improvement amortized over its useful life. Property owners must also show that these costs were paid. Examples include: copies of receipts, invoices, bid contracts or other documentation."
To pass along these "improvements," the landlord has to file a petition with the rent board. Such "improvements" as painting the exterior of the building can be passed along to the tenants as a "benefit" to the tenants. This, of course, is arguable but then arguing the "benefit" puts you and your landlord in an adverse position which can have other ramifications such as the application of a "banked rent" increase which can have a significant impact on the tenant.
No comments:
Post a Comment