Fair Return Rent Increases
Landlords have a right to a fair return on their rental property and may petition the Commission on Landlord and Tenant Affairs for a rent increase above the annual rent increase allowance to ensure the maintenance of a fair net operating income. A fair return rent increase is intended to protect tenants from unwarranted rent increases, while allowing rent levels that provide landlords with a fair return.
Fair Return rent increase petitions are processed by the Commission on Landlord and Tenant Affairs (COLTA). An Administrative Decision approving or denying the requested rent increase is issued following a detailed review of the financial documentation included in the petition. A COLTA hearing is scheduled if the tenants or the landlord filed substantive objections to the decision.
Information on the petition process and the Administrative Decisions issued by COLTA in response to the Fair Return Rent Increase Petitions filed by landlords are available for viewing below. For more information, contact Jean Kerr, Housing Specialist, at email@example.com.