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This shortage approaches 5,400 units with rents below $760.
From October only rents below the 30th percentile for the area will be eligible.
This shortage has been estimated at 15,400 units with rents below $900.
The board renewed the rule adopted last year, for an extra $15 charge on apartments with monthly rents below $500.
"They depend on when the property was built – but both hold rents below market levels," Scanlon says.
In San Francisco, school officials and federal housing officials this month announced plans to offer 1,000 apartments to teachers at rents below market rates.
Similar(42)
The rents are below-market, but the cash flow brings liquidity to the foundation, helping to fund a total of more than $50 million in grants.
Many of the people displaced were renting below market rates.
Occupancy is expected in late 2002, with 10percentt of the units to be rented below market.
Ms. Yamamoto's business survived thanks to an empathetic landlord who kept her rent below market, but who recently became ill and relinquished his business role.
But the law change allows deregulation even if the tenant pays what the rent-stabilization code calls a "preferential" rent below that amount.
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