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Following nearly 17 years of litigation, the City of Santee has announced an agreement regarding rent controls with the owners of the Meadowbrook Mobile Home Park.
As part of the court-approved agreement, the owners of the Meadowbrook park will be allowed to increase rent on rent-controlled spaces by 2.5 percent, or an average of about $18, to $765 per month. An additional increase based on the Consumer Price Index (CPI), expected to average $1-2 per month, will also be allowed. Had rents been allowed to rise to “market” rates, space rent for trailers could be $1125, per City officials.
Meadowbrook owners will also establish a $50,000 rent subsidy deposit, which will be administered by City officials, to help offset rent increases for “extremely low income” individuals, as determined by federal Department of Housing and Urban Development standards.
Under the agreement, the owners of the park have agreed not to sue to seek another rent increase except as provided for by CPI for a period of 20 years, though a 10 percent rent spike can be imposed upon the sale of any unit in the park.
Following nearly 17 years of litigation, the City of Santee has announced an agreement regarding rent controls with the owners of the Meadowbrook Mobile Home Park.
As part of the court-approved agreement, the owners of the Meadowbrook park will be allowed to increase rent on rent-controlled spaces by 2.5 percent, or an average of about $18, to $765 per month. An additional increase based on the Consumer Price Index (CPI), expected to average $1-2 per month, will also be allowed. Had rents been allowed to rise to “market” rates, space rent for trailers could be $1125, per City officials.
Meadowbrook owners will also establish a $50,000 rent subsidy deposit, which will be administered by City officials, to help offset rent increases for “extremely low income” individuals, as determined by federal Department of Housing and Urban Development standards.
Under the agreement, the owners of the park have agreed not to sue to seek another rent increase except as provided for by CPI for a period of 20 years, though a 10 percent rent spike can be imposed upon the sale of any unit in the park.