Annual Rent Increase for 3/1/22-2/28/23 Announced

Effective March 1, 2022 through February 28, 2023, the allowable annual increase amount is 2.3%. In accordance with Rules and Regulations Section 1.12, this amount is based on 60% of the percentage increase in the Consumer Price Index (CPI) for All Urban Consumers in the San Francisco-Oakland-San Jose region for the 12-month period ending October 31, which was 3.8% as posted in November 2021 by the Bureau of Labor Statistics.

To calculate the dollar amount of the 2.3% annual rent increase, multiply the tenant's base rent by .023.  For example, if the tenant's base rent is $1,500.00, the annual increase would be calculated as follows: $1,500.00 x .023 = $34.50.  The tenant's new base rent would be $1,534.50 ($1,500.00 + $34.50 = $1,534.50).