A San Francisco family is moving out of the apartment they have called home for years after their new landlord raised the monthly rent from $3,695 to $7,000.
Since 2021, Ashley and Zach Waldman have called a two-bedroom unit in the city’s Outer Richmond District their home. However, this June, they found a notice on their door raising their rent from $3,695 per month to $7,000, according to ABC7.
The building’s new owner, Hans Geiszler, purchased all 10 condominiums and says he is also exempt from California’s statewide rent cap. The reason comes down to another distinction in state law: who owns the condo and how that ownership is structured.
Why Their Condo Falls Outside San Francisco’s Rent Cap
Part of the issue comes down to when the building was constructed. San Francisco’s local rent-control limits generally apply to units that received their first certificate of occupancy before June 13, 1979…