Mountain View’s Rental Housing Committee last Monday adopted policies that will punish housing providers for offering discounted rents or rent concessions during the initial lease term.
Under the newly amended regulations, concessions provided to tenants, although temporary by their nature, must be included when calculating the base rent upon which future rent increases will be determined, causing a permanent downward impact on rental rates. The changes will apply to Mountain View’s rent-controlled housing, which is limited to apartments built before 1995.
In voting 3-2 for the change, the Rental Housing Committee ignored legal analysis from the California Apartment Association’s lawyers and robust input from CAA on how the changes affect Mountain View rental owners.
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