pages: RentReviewAdvisoryCommittee/2017-05-01.pdf, 3
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RentReviewAdvisoryCommittee | 2017-05-01 | 3 | Approved Minutes May 1, 2017 Member Cambra expressed concern that the return on investment calculation may be misrepresented depending on the actual number of bedrooms in the unit. He noted that the Committee does not consider the market rent in their recommendation. He agreed that the high number of tenants in the unit creates a burden on the property. He stated that an increase above 5% is justified, but expressed concern about the tenant's ability to pay. He supported an increase 10%. Vice-Chair Landess noted that both the tenant and the landlord take pride in the property. She agreed that the number of tenants in the unit adds to wear and tear. She supported a 10% increase with the stipulation that all the tenant's maintenance concerns are addressed. The Committee made the following non-binding recommendation: - $280.00 (10.0%) rent increase from $2,800 to $3,080.00, effective June 1, 2017. Motion and second (Sullivan-SariƱana and Cambra). Unanimous approval. 7-A. CASE 804 - 215 Hudson Bay Tenant: Absent Landlord: Absent Proposed Rent Increase: $1,525.00 (51.2%) effective March 7, 2017 No Committee review. Prior to the RRAC meeting, the landlord withdrew the rent increase request. The tenant is purchasing the property. 7-B. CASE 818 - 2701 San Jose Ave. Tenant: Absent Landlord: Absent Proposed Rent Increase: $150.00 (7.5%) effective May 1, 2017 No Committee review. Prior to the RRAC meeting, the tenant and landlord agreed to a rent increase between 0-5%. 7-C. CASE 820 - 300 Westline Dr., A205 Tenant: Absent Landlord: Katie Edwards, Prometheus Real Estate Group, Inc. Proposed Rent Increases: 12-month lease - $49.00 (2.0%); No review Month-to-month agreement - $673.00 (27.3%); Under review Page 3 of 14 | RentReviewAdvisoryCommittee/2017-05-01.pdf |