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Santa Monica rent board presents 2025 annual report showing affordability gaps, Ellis Act losses and improved fee collection
Summary
The rent control board's 2025 annual report shows persistent affordability gaps (median rents for recent rentals far above long‑term controlled rents), a net loss of controlled units in 2025 largely driven by one property converting to a licensed residential care facility, expanded monitoring of deed‑restricted units, and progress collecting outstanding registration fees.
Staff presented the Rent Control Board2025 annual report on March 12, highlighting measures the agency took last year to limit the impact of accumulated (banked) rent increases, expand monitoring of deed‑restricted affordable units, and improve registration‑fee compliance.
Public Information Analyst Amelia Platas told the board the agency adopted new regulations limiting the impact of banked rent increases to prevent sudden, large rent hikes and to ease tenant transitions. The report describes a nearly universal share of one‑ and two‑bedroom controlled units (about 82% of the controlled stock), rising median initial rents for newly rented units, and a continuing affordability gap: market‑rate median rents are roughly 140–150% higher than the…
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