The City of Concord is hearing out rent adjustment petitions from landlords seeking an upward adjustment in rent due to a fair return on investment claim

After years of soul-searching and debate, Concord’s Residential Tenant Protection Program went into effect on April 19, 2024. By amending the Concord Municipal Code Chapter 19.40, lawmakers increased "just cause" eviction protections, expanded its rent registry, and provided safeguards for tenants facing unreasonable rent increases. 

As it stands now, the ordinance caps rent at 60% of the Consumer Price Index (CPI) or 3%, whichever is less. Rents must also be rolled back to April 2023 rates plus the allowable annual rent increase percentage of 2.5%. 

Yet there are exceptions to every rule, right? 

As of Monday, October 21, housing providers can be heard before a Hearing Officer and argue that rent can be raised to realize a “fair return on investment.” Keep in mind that tenants can file petitions of their own to request a downward adjustment in rent by alleging that the landlord is not in compliance with the Ordinance. 

The petitioning process is explained in this easily digestible flyer. 

Of course, Bornstein Law can assist owners in Concord and throughout the Bay Area in maximizing rental income while staying in compliance with a myriad of state and local laws.