If your rental home is located in California, you can choose a rent increment of up to 10%.
Why up to 10% only?
California has a statewide rent increase law or the AB 1482 (the California Tenant Protection Act of 2019). This law limits your rent increment to 5% plus the change in inflation from April 1 of the prior year to April of the current year. This change in inflation or inflation rate is measured by the Consumer Price Index (CPI-U) for the area in which your rental home is located.
Meanwhile, if your region doesn’t have its local CPI, you can use the California CPI.
To keep it short:
Your rent increment must include these two numbers:
Up to a 5% rent increase percentage
Your county’s inflation rate this year
Example rent increment:
Let’s say your current rent is $1,600.
You can add a 5% rent increase, plus your local inflation rate (ex. 3.3%) this year.
5% + 3.3% = 8.3%
Your final rent increment is 8.3% or $133.
So, your new rent is $1,733.
How to add rent increase percentage to your lease on your dashboard
Go to poplarhomes.com/login
Go to Properties
Under the Rented tab, select a property that needs a lease renewal
Next, select Renew Lease Now
In the Rent Increase section, select Others
Enter your desired rent increase. (ex. 8%) Take note if your property is located in California, your rent increase percentage should not exceed 10%. You can also add a rent increase only once a year.
Where to find your local inflation rate
Check this website to find your local inflation rate.