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Among the most prominent of these are Trophy Properties and Ritz Apartments. [1] As of 2006 and 2007 CitiApartments and its affiliates owned 307 apartment buildings with a total of more than 6,500 apartment units housing more than 7,000 residents, making it the second-largest owner of residential rental property in San Francisco at the time. [2]
In 2016, The Guardian reported that the average SRO rents in San Francisco's Chinatown are increasing from $610 in 2013, to $970 in 2015 (the average rent for all rental housing was $3,907). [41] The increase in SRO rents is due to the shift away from renting to Chinese immigrants towards "college graduates, single adults and white people". [ 41 ]
San Francisco, for example, allows annual rent increases of 60% of the CPI, up to a maximum 7%. [65] Rent control laws are often administered by nonelected rent control boards. Officers in city government assign members of the board, which will ensure mixed numbers of tenants and property owners to balance out their benefits.
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We thought a 325-square-foot apartment was tiny, but San Francisco has shrunk the size of a studio even further -- to a ridiculously minuscule 160 square feet. Patrick Kennedy of the development ...
In 1994, San Francisco voters passed a ballot initiative which expanded the city's existing rent control laws to include small multi-unit apartments with four or less units, built prior to 1980. (about 30% of the city's rental housing stock at the time).