§ 540-2.1202. Capital improvement rent increases.

(a)

In order to provide an incentive to park owners to improve their properties and guaranteeing a fair and reasonable rate of return for such improvements, while at the same time protecting mobilehome owners from excessive rent increases, capital improvement rent increases shall be granted in accordance with the requirements of this article.

(b)

Further, in order to promote advance fiscal planning, park owners shall have the option of obtaining approval for capital improvements before performing the work. In the alternative, park owners may commence rent increase procedures after the work is completed.

(Ord. 95-31, § 2).