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24. 70.01S Specific Standards <br />(1) Initial Letting and Voluntary Vacancy <br />Upon the initial letting of a new unit or a voluntary <br />vacancy, the landlord may relet free of limits of this <br />ordinance, but the new tenancy shall thereafter be subject <br />hereto. <br />(2) Frequency of Rent Increases <br />Rent should not ordinarily be increased more <br />frequently than annually, but it may be increased: <br />(a) When the fee imposed under Part 6 hereof <br />is paid, it may be passed through at the rate <br />of no more than $1 per month. <br />(b) When title to a rental dwelling vests in <br />a new landlord as a result of a change of owner- <br />ship. <br />(c) At any time, with the written consent of all <br />affected tenants, which shall be sought through <br />conciliation or mediation. <br />(3) Amount of Annual Increase <br />Annual rent increases shall not exceed the 70% CPI <br />ceiling unless the Hearing Officer determines that other <br />factors render a larger increase reasonable. CPI is the <br />Consumer Price Index -- All Urban Consumers for the San <br />Francisco - Oakland Area. The most recent CPI is the bi- <br />monthly figure most recently available from the Bureau <br />of Labor Statistics. The 70% CPI ceiling is an amount <br />arrived at by adjusting the current rent to reflect 70% <br />of the average change in the CPI since the date of the <br />last rent increase notice. <br />The formula is: <br />average of CPI changes New <br />Present Rent +[Present Rent x(700 x since date of last rent)] =Rent <br />increase notice* <br />*as computed by the Town or its agent. <br />-2- <br />. ...... .a... .. _. yi,. �:^ ^Atb.4'9nsL'tP' \h�F^uYw.r.:.:wa - . -;.c:. . ti ^:. rn »:. 1... -,.: •.4th <br />