Rent Board Adopts 2022 Annual General Adjustment in the Amount of 5.2% (Effective 09/01/2022)
At their meeting on April 20, 2022, the Rent Board adopted Regulation 610, establishing the 2022 Annual General Adjustment (AGA) rent increase for Controlled Rental Units in the amount of 5.2%. Rent increases for the 2022 Annual General Adjustment may not take effect prior to September 1, 2022.
The 2022 AGA may only be applied to tenancies in effect prior to September 1, 2021.
In addition, while keeping in mind the above information, to apply the 2022 Annual General Adjustment rent increase of up to 5.2%, Landlords must comply with State law requirements and file a notice of rent increase with the Rent Board within ten (10) business days after service on the Tenant, in accordance with Regulation 603.
Visit www.richmondrent.org/increase to access resources such as a notice of rent increase template, Maximum Allowable Rent Calculator, and more.
What’s the Annual General Adjustment?
The Annual General Adjustment (AGA) is an annual rent increase for Controlled Rental Units permitted by the Richmond Fair Rent, Just Cause for Eviction, and Homeowner Protection Ordinance. The Annual General Adjustment is calculated based on the percentage change in the Consumer Price Index of the Bay Area, which includes San Francisco, Oakland, and San Jose.
Are Landlords Allowed to “Bank” Annual General Adjustment Rent Increases?
Pursuant to Rent Board Regulation 602, in the event that a current year’s Annual General Adjustment exceeds five percent (5.0%), a Landlord may not apply any deferred Annual General Adjustment increases until the next Annual General Adjustment increase less than five percent (5.0%) is effective.
Due to the fact that the 2022 Annual General Adjustment is above the 5% threshold, landlords will be unable to bank any deferred AGA increases until the AGA falls below 5%.