Rent Increases to Displacees. During the period of invocation set out in subsection
8.22.200(B), an owner may enter into a rental agreement with a displacee for an initial rent
at a below market rate fixed for a period of at least six months and may increase
the rent at the end of the six month period if the owner has given the displacee the
notice required by subsection 8.22.200(D). The rent increase at the end of the six month period or other term is not subject
to the limitations on rent increases provided in this Chapter, but any subsequent
rent increases are subject to the limitations on rent increases provided in this Chapter 8.22. The rent increase must not exceed the amount stated in the notice the owner gives
to the displacee prior to the commencement of the tenancy. If an owner agrees to continue
to rent to a displacee at the reduced rent for a period longer than one year, the
owner may increase the initial rent pursuant to O.M.C. 8.22.070 (Rent Adjustments
for Occupied Rental Units). In order for a rental agreement to be eligible under this
Section 8.22.200, the below market rent must be no greater than fifty percent (50%) of the HUD Fair
Market Rents in effect in Oakland at the time this section is invoked based on the
number of bedrooms in the rental unit. The City Administrator will make available
to the public the maximum rents for eligibility under this section.
C.