HomeMy WebLinkAboutCapital Improvement Rent Increase ApplicationAPPROVED 3/16/01
PALM DESERT MOBILEHOME PARK RENT REVIEW BOARD
PETITION FOR CAPITAL IMPROVEMENT RENT INCREASE APPLICATION
Palm Desert Rent Review Guideline 101(c)
All information requested on this form must be provided. Failure to answer any questions or
provide supporting documentation may result in dismissal of the petition by the Rent Review
Commission.
Name and Title of Applicant:
Business Address:
Telephone (include area code): Fax (include area code):
Name of Mobile Home Park:
Address of Mobile Home Park:
Total Number of Mobile Home Tenant Spaces:
I. TYPE OF CAPITAL IMPROVEMENT
(check one box and fill in the number of approving votes, if applicable)
New and did not exist before. The Capital Improvement has been approved by two-
thirds (2/3) vote of the Tenants, based on one vote per space; Tenants
approved. Signed copies of the voting document, or other proof indicating approval
of the Capital Improvement and Proposed Rent Increase by at least 2/3 of the
Tenants is attached.
Modernize, upgrade, or refurbish already existing improvements. The Capital
Improvement has been approved by a majority vote of the Tenants, based on one
vote per Space; Tenants approved. Signed copies of the voting
document, or other proof indicating approval of the Capital Improvement and the
Proposed Rent Increase by at least a majority of the Tenants is attached.
Involuntary (e.g., required by a governmental entity or unreimbursed repair of
damage from natural disaster).
II. DESCRIPTION AND REASON
Describe the Capital Improvement and the reason for the Capital Improvement:
PETITION FOR CAPITAL IMPROVEMENT RENT INCREASE APPLICATION
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III. CURRENT RENT
Current Rents in the Park that are controlled under Palm Desert Municipal Code Chapter
9.50 range from a minimum of $ to a maximum of $ per month.
No Rent Increases are pending.
Rent Increases are pending.
Describe pending Rent Increases:
IV. TIMING
Actual
Scheduled
Estimated Completion Date for the Capital Improvement:
Delay of the Completion Date by more than ninety (90) days shall invalidate this Petition
and any Capital Improvement Rent Increase approval granted by the Rent Review
Commission based on this Petition.
Proposed Effective Date of Rent Increase:
V. FINANCIAL
A. $ Cost of Improvement
Attach an accounting of the cost and supporting documentation
B. $ Reimbursements, e.g. government assistance or insurance
proceeds Describe reimbursements in the Other Information section below
C. Useful Life of Improvement in years (identify source below)
Source: IRS Publication 946 Property Class or Other Source
D. $ Annualized Cost of Improvement (Strait-Line Method)
(A minus B divided by C)
E. $ Annual Cost of Capital
( % per annum; identify source of funds below)
Source of Funds: Institutional Lender
Landlord Financed
Other:
1) Attach substantiation and verification of how that percentage is calculated and;
2) Explain how that percentage is reasonable.
F. $ Annual Total Coast
(D plus E)
PETITION FOR CAPITAL IMPROVEMENT RENT INCREASE APPLICATION
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G. $ Other:
H. Total Number of Tenant Spaces
I. $ Annual Rent Increase per Tenant
(F plus G divided by H)
J. $ Monthly Rent Increase
(I divided by 12)
V. OTHER INFORMATION
Briefly present any other information that the Rent Review Commission should consider
with this Petition (attach additional pages if necessary):
I declare under penalty of perjury that the statements contained herein are true and correct.
Signature
Print name
Corporate title, if any