The San Francisco City and County Rent Board has announced its annual allowable rent increase and interest rate deposits for the new year. Effective March 1, 2014 through February 28, 2015, the allowable annual increase amount is 1.0%.
The amount is based on 60% of the percentage increase in the Consumer Price Index (CPI) for All Urban Consumers in the San Francisco-Oakland-San Jose region for the 12-month period ending October 31, which was 1.6% as posted in November 2013 by the Bureau of Labor Statistics.
To calculate the dollar amount of the new 1% annual rent increase, landlords should multiply the tenant's base rent by .010. For example, if the tenant's base rent is $1,250.00, the annual increase would be calculated as follows: $1,250.00 x .010 = $12.50. The tenant's new base rent would be $1,262.50 ($1,250.00 + $12.50 = $1,262.50).
New Interest Rate for Security Deposits
3/1/14 - 2/28/15 - 0.3%
3/1/13 - 2/28/14 - 0.4%
Visit the Rent Board to learn more.