§ 540-2.404. Standard annual rent increases.

(a)

Except as provided in Sections 540-2.406, 540-2.408 and 540-2.410, the space rent payable for use or occupancy of any mobilehome space shall not be increased by a park owner within any twelve-month period more than the greater of:

(1)

Two percent; or

(2)

Seventy-five percent of the percent change in the Consumer Price Index, provided that no rent increase of more than six percent may be imposed pursuant to this section.

(b)

All standard rent increases shall become a part of the base rent upon which future rent increases are based.

(c)

The initial standard rent increase shall be allowed on or after ninety days after the effective date (July 27, 1995) of the ordinance codified in this chapter provided all required notices have been given.

(Ords. 97-8 § 3; 95-31 § 2).