Overview
- The City Council voted 12-2 to adopt the new formula for RSO units and instructed the city attorney to draft the ordinance before final implementation.
- Annual increases will equal 90% of the Consumer Price Index, with a 1% floor and a 4% ceiling.
- The update eliminates the extra 1%–2% increase when landlords pay for gas or electricity and bars additional rent hikes tied to dependents.
- Roughly 600,000 to 650,000 pre-1978 apartments are covered; prior rules allowed 3%–8% increases, up to 10% when utilities were included.
- Officials ordered a report within 30 days on impacts to new housing and possible mitigation, with targeted repair and rehab funding for small landlords floated.