Under rent control policy in Oakland, the city allows for an annual rent increase based on inflation. Because of this, property owners have usually been able to raise rent between one and three percent. The highest rate increase on rent-controlled properties that Oakland has seen was 3.6 percent in 2003.
This year, however, due to rising inflation rates, rent control was set to increase to 6.7 percent – the largest increase ever allowed under the ordinance.
Prior to Tuesday night’s meeting, Councilmember Carrol Fife shared in a press release, QUOTE With gas prices nearing seven dollars per gallon, the increased costs of food and everyday expenses, I could not, in good conscience, allow this exorbitant spike to take effect.” UNQUOTE
During last night’s meeting, some Oakland residents did raise concerns that the ordinance would create barriers for black and brown property owners.
Councilmember Loren Taylor shared a similar perspective, cautioning that it is becoming more difficult for small landlords to run rental properties in Oakland.
In Berkeley, I’m D’Andre Ball KALW News.