(Adopted July 12, 2022)

            A landlord who has substantially complied with their obligation to report information about a rental unit as described above shall receive a license to increase rent for that unit under Ordinance Sections 37.3(a)(1)-(2). Any rent increase under Ordinance Sections 37.3(a)(1)-(2) purporting to be effective while the landlord is unlicensed shall render the entire rent increase null and void; provided, however, that the effective date of the rent increase, not the date of service, shall be used to determine whether or not the increase conforms with the provisions of this section. Nothing in this Regulation shall affect a landlord’s banking rights or the ability to accumulate otherwise lawful rent increases that were found to be null and void.

            This section shall apply to all rent increases that are effective on or after July 1, 2022, except that with respect to condominium units and buildings with less than ten residential units, this section shall only apply to rent increases that are effective on or after March 1, 2023.