Mountain View’s Rental Housing Committee has partially revised its newly adopted policies for calculating base rent to soften the blow to housing providers who provide one-month rent concessions to their tenants at move-in.
As previously reported by CAA, the Rental Housing Committee on June 20 amended its regulations to require that temporary rent concessions provided to tenants at move-in be included when calculating the base rent and allowable rent increase upon renewal of the rental/lease agreement.
The policy had the effect of causing a permanent downward impact on rental rates simply because the landlord offered a concession at move-in. The original amendments had no exception for even “first month free” concessions, despite the fact that these types of move-in specials are common practice in the industry and benefit landlords and tenants alike.
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