Oakland landlord pays himself $4m to remove a 25-unit building from rent control, then cashes in

An Oakland property owner exploited Oakland’s often weak rent control protections to remove a 25-unit lakeside property from rent control. The owner bought the then-rent-controlled building for $3.3m in 2013, put $4m into capital improvements, and just sold it for $11m. Under Oakland’s Rent Ordinance, because they spent $4m on capital improvements, the owner was able to petition to have all 25 units declared permanently exempt from rent control because the property had been “substantially rehabilitated.” The previously ... Read more

San Francisco Rent Board Announces Next Year’s Annual Allowable Rent Increase Will Be 2.2%

The San Francisco Rent Board just announced the annual allowable rent increase for increases that go into effect between March 1, 2017 and February 28, 2018. The annual allowable rent increase will be 2.2%. You have to go back fifteen years to find a higher annual allowable rent increase. This amount is calculated as 60% of the Consumer Price Index (CPI) for All Urban Consumers in the San Francisco-Oakland-San Jose region, which was 3.6%. Note that the annual rent increase applies to base rent only. If part of your monthly payment is attributab... Read more

Oakland’s Measure JJ Will Strengthen Rent Control and Eviction Protections

There were quite a few rent control and tenant protection measures on the ballots in the Bay Area. We’ll take a look at the most important ones, starting with Oakland’s Measure JJ. Oakland’s Measure JJ passed with a very strong 75% of the vote. Measure JJ amends the Oakland Rent Adjustment Ordinance and the Oakland Just Cause for Eviction Ordinance (passed as Measure EE in 2002) to strengthen rent control and expand eviction protections. Specifically, Measure JJ provides that: Landlords must petition the Oakland Rent Board b... Read more

25% of All San Francisco Owner Move-In Evictions Are Bogus

NBC Bay Area just released an impressive investigative report suggesting that 25% of all San Francisco owner move-in and relative move-in evictions are bogus. The owners aren’t living there. The relatives aren’t living there. Instead, rent-controlled tenants were evicted so that the landlord could move in new tenants paying exorbitant market rate rents. Perpetrating a wrongful eviction can be very lucrative for a landlord because of the huge increase in rents the landlord can collect, but it is also extremely risky. San Francisco wr... Read more