HomeMy WebLinkAboutCapital Improvement Rent Increase Application (2)- Petition for Capital Improvement Rent Increase Application
Skip to main content PALM DESERT MOBILEHOME PARK RENT REVIEW BOARDPETITION FOR CAPITAL IMPROVEMENT RENT INCREASE APPLICATION
Approved 3/16/01
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.
Capital improvement type selection 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; Number of tenants approved for new capital improvement 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; Number of tenants approved for modernization, upgrade, or refurbishment 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
For example, 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 III. Current Rent Minimum current rent controlled under Palm Desert
Municipal Code Chapter 9.50 Maximum current rent controlled under Palm Desert Municipal Code Chapter 9.50 per month Current Rents in the Park that are controlled under Palm Desert
Municipal Code Chapter 9.50 range from a minimum amount to a maximum amount per month. Pending rent increase status No Rent Increases are pending. Rent Increases are pending.
Describe pending Rent Increases IV. Timing Timing details 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 Financial information required for the petition Item Required information Response field A Cost of Improvement
Attach an accounting of the cost and supporting documentation. Cost of Improvement B Reimbursements, for example government assistance or insurance
proceeds. Describe reimbursements in the Other Information section below. Reimbursements C Useful Life of Improvement in years (identify source below).
Source: IRS Publication 946 Property Class Source: Other Source Other Source details Useful Life of Improvement in years D Annualized Cost of Improvement (Strait-Line Method)
(A minus B divided by C) Annualized Cost of Improvement E Annual Cost of Capital (Annual Cost of Capital percentage per annum % per
annum; identify source of funds below) Source of Funds: Institutional Lender Source of Funds: Landlord Financed Source of Funds: Other Other source of funds details
Attach substantiation and verification of how that percentage is calculated and;
Explain how that percentage is reasonable.
Annual Cost of Capital F Annual Total Coast (D plus E) Annual Total Coast
0 G Other Other H Total Number of Tenant Spaces Total Number of Tenant Spaces I Annual Rent Increase per Tenant (F plus G divided by H) Annual Rent
Increase per Tenant J Monthly Rent Increase (I divided by 12) Monthly Rent Increase V. Other Information
Briefly present any other information that the Rent Review Commission should consider with this Petition (attach additional pages if necessary).
Other Information Declaration and Signature I declare under penalty of perjury that the statements contained herein are true and correct. Signature Print
name Corporate title, if any Print Download HTML
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