HomeMy WebLinkAbout20241015_Notice of Rent Increase for Creekside Communityi------ RECEIVED
OCT 1 5 2024
§LO Cl~ _gLERK
October 10, 2024
City of San Luis Obispo, City Administration
990 Palm Street, Room #1
San Luis Obispo, CA 93401
RE: Notice of Rent Increase for Creekside Community
To W hom It M ay Concern ;
Please see the enclosed copies of the 90 Day Notice of Rent Increase that was
recently distributed to all residents at Creekside Community, 3960 S. Higuera St.,
San Luis Obispo, CA 93401.
For any questions or verification required please contact Kyle Dylewski, C.O.O. of
EPI Lim ited Partnership, at ky le@ epi-lp.com or 714.738.9092.
Sincerely,
Kyle Dylew ski
Creekside Com m unity
3960 S. Higuera Street, San Luis Obispo, CA 93401 IP: 805-543-7113 IF: 805-594-1283 I creeksidemhc.com
C r e e k s id e C o m m u n ity
3 96 0 S . H ig u e ra S tre e t
S a n L u is O b is p o , C A 9 3 4 0 1
0 9 /1 9 /2 0 2 4
3 96 0 S . Hi g u e ra S tre e t,
S a n L u is O b is p o , C A 9 3 4 0 1
NINETY-DAY NOTICE OF RENT ADJUSTMENT
Dear Resident(s),
This letter is your Ninety-Day Notice of Rent Adjustment, effective January 1, 2025. The Rent
Stabilization Ordinance ("RSO"), Municipal Code §5.44, provides for annual rent adjustments every
twelve (12) months, starting January 1st. From July 2023 to July 2024, the Consumer Price Index
("CPI") increased 3.4 percent which, per the RSO calculation methods, remains 3.4%. Therefore,
effective January 1, 2025, your base rent will be adjusted accordingly:
Your current SPACE RENT, $1,003.24, will increase by the CPI quotient in the amount of
3.4%.
YOUR NEW SPACE RENT, beginning January 1, 2025, will be $1,037.35.
The RSO also provides that space rent may be automatically adjusted based on increases or
decreases in expenses for common area utilities, new government-mandated services, garbage
___,, service and cable television, where applicable, excluding capital improvements or ongoing
maintenance costs. The additional rent is calculated by dividing the total increase or decrease in
any such expenses incurred during a twelve-month period by twelve, less the CPI percentage
change, then based on your proportion of total space rent. All amounts stated are per month.
• Natural Gas cost decreased $1,143.06; additional rent for natural gas is -$5.34
• Electricity cost increased $240.19; additional rent for electricity is $1.12
• Water cost increased $703.55; additional rent for water is $3.29
• Sewer cost increased $1,452.89; additional rent for sewer is $6.79
• Per the Notice of Change in Terms of Tenancy, additional rent for garbage is $0.00
• Cable fees increased $88.81; additional rent for cable fees is $0.41
• Government fees increased $230.64; additional rent for government fees is $1.08
YOUR NEW ADDITIONAL RENT, beginning January 1, 2025, will be $7.35.
Thank you for your cooperation with these adjustments. We invite you to contact us if you have any
questions regarding these calculations.
Sincerely,
Creekside Community
-~-1!!
EPI LIMITED PARTNERSHIP
1370 N. BREA BLVD. SUITE 216
FUIJ.RRTON, CA 92835
RECEIVED
OCT 15 2024
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