Palo Alto Rent increase rules

[Carlos Lez]

While statewide AB1482 caps rents to the lesser of  5%+CPI or 10% in a 12 month period what happens after the annual lease expires? i.e. the 12 month period is over. Are rent increases still capped for really low rents from during the pandemic? I have a tenant paying much below market rent from during the pandemic and need to increase their rent nearly 15%.

Any clarity on this matter is much appreciated.

I have read the following memorandum from the city of Palo Alto

https://www.cityofpaloalto.org... 

That states the following;

If you have a lease, the rent cannot be raised during the term of the lease, but when the lease expires the new rental rate is solely a matter of negotiation between tenant and landlord. There is no requirement that the landlord give a written notice of an increase in advance of the termination of the current lease.