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Richmond Rent Board adopts 1.5% annual general adjustment for eligible tenancies
Summary
The Richmond Rent Board on June 17 adopted Regulation 615 to set the 2026 annual general adjustment at 1.5% for tenancies commencing before Sept. 1, 2025, based on 60% of the February-to-February CPI (2.5%), capped at 3%. The regulation passed by roll-call vote with two members absent.
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.
