Richmond Rent Board adopts 1.5% annual general adjustment for eligible tenancies

The Richmond Rent Board voted June 17 to adopt Regulation 615, establishing a 1.5% annual general adjustment (AGA) for tenancies that began before Sept. 1, 2025.

General Counsel Charles Oshinuka told the board that Measure P requires using 60% of the prior year’s Consumer Price Index and applying a 3% cap if the formula exceeds that threshold. "This year the result was lower than 3%. It was 1.5%," Oshinuka said, explaining that the February-to-February CPI was 2.5% and 60% of that equals 1.5%.

Board members recorded no questions during the staff report. The board moved and seconded the item and adopted the regulation by roll-call vote; the motion carried with Board member Espinosa and Vice Chair Caner absent.

The regulation announces landlords’ ability to take the 1.5% increase for qualifying tenancies. The board’s action was procedural: staff described the calculation required under the city’s rent ordinance and Measure P and presented the ministerial announcement for adoption.

Next procedural steps: the board adopted the regulation during the meeting; affected landlords and tenants will be able to apply the announced AGA consistent with Regulation 615 and the city’s rent ordinance.