Notice of 2025 Rent Increase
by admin | Sep 23, 2024 | Archive
As part of the annual MVMCC budget process which was adopted at the Novato City Council meeting on June 25) 2024) the Novato City Council voted to increase rent for MVMCC by CPI or the 4% cap whichever was lower.
The City of Novato’s Mobile Home Rent Control Ordinance sets the maximum general rent increase permissible in a mobile home park in the City to 100% of the Consumer Price Index (CPI) occurring over the 12-month period immediately preceding September 1, which immediately preceded January 1 of the year in which the increase is permitted or 4% whichever is lower. The CPI increase for this year is 2.7%. Attached to this notice is a copy of the annual CPI notice for 2025 that is determined and distributed by the City of Novato which outlines how CPI is calculated.
Based on the budget approved by the City Council and in accordance with the Mobile Home Rent Control Ordinance, the actual rent for all MVMCC spaces will be increased by 2.7% for 2025. This increase will be effective January 1, 2025.
The calculation of how the rent increases for each individual unit are made is as follows:
Your Current Monthly Rent as of 12/31/2024 divided by the Consumer Price Index as noticed by the City plus your Current Monthly Rent.
As an example, if your Current Monthly Rent as of 12/31/2024 is $600.00 per month, the calculation is as follows:
Current Monthly Rent as of 12/31/2024 % increase in CPI $600.00 X
Increase in Monthly Rent 2.7%=
Current Monthly Rent as of 12/31/2024 $600.00=
New Monthly Rent (effective January 1, 2025) $616.20
A copy of these calculations as applied to the actual rent of each tenant was mailed on September 25, 2024 to each individual tenant by Park Management.
I declare under penalty of perjury that the calculations contained herein are certified to be accurate.
