Sea Castle Apartments, Ltd. v. Santa Monica Rent Control Board, 228 Cal. App. 3d 1540 (1991)

Citation: Sea Castle Apartments, Ltd. v. Santa Monica Rent Control Board, 228 Cal. App. 3d 1540 (1991)
Parent Document: Sea Castle Apartments, Ltd. v. Santa Monica Rent Control Board, 228 Cal. App. 3d 1540 (1991)
Jurisdiction: California (state)
Effective Date: 1991-04-03
Original Source: https://www.courtlistener.com/opinion/5807699/sea-castle-apartments-ltd-v-san... ↗

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In contrast to the HUD scheme, regulations promulgated under Rent Control Law declare an intent to set rental rates at a level which will provide owners with a fair return on their property. Rent Control Law presumes that owners were receiving a fair return on the rollback date, and allows adjustments for items such as increased taxes, management expenses, and repairs. However, mortgage interest and principal payments are specifically excluded from this calculation. (Santa Monica Rent Control Regs., ch. 4, § 4100 et seq.; see also Baker v. City of Santa Monica (1986) 181 Cal.App.3d 972, 988 [226 Cal.Rptr. 755], app. dism. (1987) 479 U.S. 1073 [94 L.Ed.2d 126, 107 S.Ct. 1265].)

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