Rent increase, rent decrease, and rent adjustment definition
Rent increase, rent decrease, and rent adjustment means the intent and policy of the governing body to interfere in landlord-tenant relations and legitimate operation ownerships, occupancy and development of real estate, only when necessary to protect the public interest. “Rent increase,” “Rent decrease” and “rent adjustments” shall consist in the first instances of the notice sent by the landlord to the tenant, or by the tenant to the landlord, in letter or other form, setting forth the proposed notice of “rent increase,” “rent decrease” or other “rent adjustment.” Each notice shall set forth in detail the reasons justifying or requiring such increase, decrease or adjustment.