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Council approves amendment to mobile-home rent formula, replacing CPI-based method
Summary
Lancaster City Council approved an amendment to the city code changing the formula for annual mobile-home park rent increases, replacing the prior 60%-of-CPI method with a tiered approach that sets an approximate minimum of 2.5% and a 3% cap.
Lancaster City Council approved an amendment to the municipal code that changes how annual rent increases in mobile-home parks are calculated, saying the move will reduce volatility and provide more predictability for both residents and park owners.
Sam McNutt, manager for community preservation, said the city's existing method used a 60%-of-CPI (consumer price index) formula that…
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