Silicon Valley leaders are debating a plan to curb soaring rent prices as resident complain they are being priced out of their homes.
The San Jose City Council will debate a plan on Tuesday that includes stricter rent control and increased monitoring of evictions. The Apartment Rent Ordinance and the Renters Rights and Referrals Program are intended to reduce allowable rent increases to 4 percent each year.
City councilmembers will also discuss what’s called a “good cause” eviction notice and other options to alleviate the hardships on tenants.
One couple says they really need the help. Samuel Laracuente and Athena Parpas say their rent was scheduled to go up by 21 percent beginning Tuesday, but after pleading with the apartment managers, they knocked the increase down to 18.5 percent, still an increase of $375 a month.
“I don’t have options,” Laracuente said. “That’s why I have to sign the lease tomorrow.”
The office of Councilmember Donald Rocha told NBC Bay Area any building built after 1979 would not qualify for rent control under current city ordinance. That’s why they say some residents are seeing such dramatic rent increases.
Attempts to reach the couple’s landlord for comment were not successful. They have until Tuesday to sign the new lease at the higher rate.