AB 1482 CPI search now based on county
The California Apartment Association’s tool for calculating maximum allowable rent increases under AB 1482 is now easier to use.
The tool now includes a drop-down menu with county names. Simply select the county where your property is located to find out the local Consumer Price Index. Previously, users needed to type in the ZIP code of their property’s location for the CPI.
AB 1482 took effect Jan. 1, 2020, and imposes rent increase limits of 5% plus CPI on most residential rental properties in the state.
The CPI you must use under AB 1482 is specifically defined and generally requires using April CPI rates. Those April CPI numbers are typically not available for 6 to 13 weeks, depending on the region.
As of June 17, 2020, the CPI calculator on the CAA website includes the latest CPI rates for all regions of the state for purposes of AB 1482; these rates are valid for rent increases that take effect before April 1, 2021.
The new CPI rates range from 0.69 to 2.3, with much of California at 1.0%. Verify the CPI rate for your property using CAA’s CPI calculator on the AB 1482 Compliance Page.
Note, some local governments have placed a moratorium on rent increases. Check whether your jurisdiction has such an ordinance in place before increasing any rents. Also, as the economic fallout of the pandemic continues, please be thoughtful when considering rent adjustments.