pages: RentReviewAdvisoryCommittee/2019-08-07.pdf, 4
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RentReviewAdvisoryCommittee | 2019-08-07 | 4 | Approved Minutes August 7, 2019 Member Murray asked Mr. King if they have made any specific improvements to the unit. He said not that he's aware of. Member Murray asked Mr. Tensae how much his son is contributing to rent and is he paying for school. Mr. Tensae replied his son is contributing $300 each month for rent and is receiving financial aid for school. Member Murray asked Mr. Tensae if his son is going to continue living there while working on his masters. He responded yes. Member Murray asked Mr. Tensae if his son gets accepted into grad school, will he have the ability to contribute $300 towards rent. Mr. Tensae responded 60% of his income and $300 from his son goes to rent. Chair Sullivan-Cheah asked Mr. King if he's able to decrease rent by $200, is firm with the original request or open to anything in between. Mr. King offered an increase of $80 in light of the circumstances. Chair Sullivan-Cheah asked Mr. Tensae if $80 is acceptable. Mr. Tensae said he would like the rent to stay the same. As no agreement was reached, the parties took their seats and the Committee began deliberations. Chair Sullivan-Cheah said he was more comfortable with an increase of $80 at this unit given its rent increase history and tenant's situation. Member Sidelnikov noted that there's been over a 20% increase since 2015. A 2% increase was approved last year based on financial hardship and he believes that $80 is reasonable. Vice Chair Chiu acknowledged the tenant's employment issues. He agreed that an $80 increase would be reasonable. Member Murray noted the $4 million initial investment and $3500 to replace all the windows. She said to recoup those costs would be around $179 per month with no interest, therefore $80 is a small amount. She said she understands the tenant's financial challenges. However, the owners need to be compensated for their investment. Chair Sullivan-Cheah asked Member Murray about the cost increase for property taxes. Member Murray replied 4% each year and insurance and water have increased as well. Chair Sullivan-Cheah made a motion for $65 rent increase. No second. | RentReviewAdvisoryCommittee/2019-08-07.pdf |