San Francisco Rent Board announces annual increase
If you’ve been wondering about the annual increase for the city’s rents, wonder no more. The San Francisco Rent Board has announced that, effective March 1, 2016 through Feb. 28, 2017, the allowable annual increase amount is 1.6 percent.
This amount is based on 60 percent of the percentage increase in the Consumer Price Index for the San Francisco-Oakland-San Jose region for the 12-month period ending Oct. 31, 2015. This was 2.6 percent according to the Bureau of Labor Statistics, which posted the figure in November 2015.
Looking to calculate the dollar amount of the annual rent increase? Just multiply your tenant’s base rent by .016. For example, if the tenant’s base rent is $1,500.00, the annual increase would be calculated as follows: $1,500.00 x .016 = $24.00. The tenant’s new base rent would be $1,524.00 ($1,500.00 + $24.00 = $1,524.00).
For more information, check out these resources from the Rent Board:
1982 – present (PDF)
1983 – present (PDF) (the new rates effective March 1, 2016 are not yet available):
1999 – present (PDF)
For more information, please visit the SF Rent Board: http://sfrb.org/