The language I've seen for the rule is increase 10% of local market rates, not the base rate of the house itself. So your neighbors rent would increase by more than %10 of their base.
Or did I miss something?
Or did I miss something?
I rented apartment last year and they increased rent by more than 40%.
This new rule states that you cannot set the rent above 10% of the local market average for any tenant.
So for existing tenants, most likely the first rule applies (because new tenants rise the average), for new tenants the second applies.