5.72.070 Automatic annual increases based on increases in the Consumer Price Index.
A. Annual Rent Increases Starting in 2012. Starting in 2012, on or after May 1st of each year, the rent may be increased over the allowable rent as of May 1st of the prior year by one hundred percent of the percentage increase in the CPI last reported as of January 30th in the current year over the CPI last reported as of January 30th in the prior year. The percentage amount of said increase shall be rounded to the nearest one-quarter of one percent.
However, in 2012, the rent may not be increased over the rent in effect as of January 1, 2010, by a percentage that exceeds the percentage increase in the CPI from January 1, 2010, to the date of the notice of the increase.
B. Notice of Annual Allowable Annual Rent Increase.
1. Notice by City Manager. The allowable annual rent increase shall be annually calculated by the city manager and posted by February 15th of each year in City Hall and on the city’s website, and on a notice board in each mobile home park and shall be mailed to each park owner and to the mobile home owner representative in each park.
2. Notice in Mobile Home Parks. A copy of the clerk’s notice shall be posted in a prominent place by each park owner in each mobile home park within three work days after it is received by the park owner.
C. No Decrease if CPI Decreases. In the event that the CPI decreases, no rent decrease shall be required pursuant to this section. In the event that the CPI decreases by more than two percent in any year, said decrease shall be subtracted from the following annual increase(s) allowable pursuant to this section.
D. Banking of Allowable Annual Increases. Increases authorized pursuant to this section may be implemented by the landlord at any future time, subject to the precondition that by January 30th of each year the park owner notify the mobile home owner of each increase allowed pursuant to this section which has not been implemented and notification that the banked increase may be added to the rent at a future date.
E. Compliance with State Law. Rent increases permitted pursuant to this section shall not be effective and shall not be demanded, accepted, or retained until the landlord has given the notice required by state law. (Ord. 2011-05 § 1 (Exh. A), 2011)