San Jose Rent Control Just Got Tighter.
San Jose, California – On April 20th, the City Council of San Jose approved a change to the cities rent control ordinance decreasing the allowable annual increase to only 5%. This threshold was previously set at an 8% annual increase, for the 44,000 units covered by the Apartment Rent Ordinance. Neither side is satisfied with the new ruling, as building owners are concerned with increased building maintenance costs and renter’s live in an already unaffordable housing market. Many believe the only solution to the existing housing crises, is the development of additional housing units. Presently planned developments however, are not expected to keep up with anticipated demand.
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