Updated: February 4th, 2019
DE-Tenants.org has published a post explaining Santa Monica’s rent control ordinance HERE.
Per the ordinance, Santa Monica rents consist of three things:
- a Maximum Allowable Rent (MAR), which is the main part of the rent;
- a “pass-through” equivalent to half of the annual registration fee that the city’s Rent Control Board charges for each unit;
- and surcharges, line items from the owner’s property tax bill.
The MAR makes up the bulk of Santa Monica rents, and the MAR is recorded annually by the city. DE-Tenants.org has collected MAR data for two Douglas Emmett residential properties from Santa Monica’s Rent Control Board and we are publishing it today. Those residential properties are Pacific Plaza at 1431 Ocean Ave and The Shores at 2700 and 2800 Neilson Way.
The data, downloadable in Excel format, allows tenants to compare their rent to their peers in similarly sized units using the sorting function. The data include a unit-by-unit breakdown with all rents, utilities, parking spaces, move-in dates and rate hikes. This information is publically available and is intended to help tenants make informed decisions as they navigate Santa Monica’s overheated real estate market. The information helps to level the playing field with your landlord who relies on the asymmetry of information (they know all the rents but you only know yours) to extract as much money as possible from you.
If you believe your rent is unfairly high, contact us at the email below.
|Unit||Property Name||Property Address||Current MAR||Utilities||Bedrooms||Baths||Square Feet||Parking||Most Recent Tenancy Turnover||MAR Increase||MAR Increase Percentage|