Chair Hudson asks about rent reasonableness policy impact on lease-up

And the reinstated rent reasonableness policy has increased the time between pre-clearance and lease-up.

To your understanding, if this legislation was enacted, would that increase in time be captured?

So we...

We have, I mean, any period of time from, as the legislation has it, right, it's from when the shopping letter and someone is initially deemed eligible to when they move out.

So that would include all aspects of that process, right?

Both the period of time it finds to find a unit, identify it, the inspection process, and then the package process.

I will say as it relates to rent review and rent reasonableness, right, we did roll that out in the late spring with very good intentions of we do want to ensure, right, the city is not being.

Charged rents that are outside of allowable rents, whether it's rent regulated rent or market rate comparables.

We did understand and see an unanticipated impact of rolling that out, especially as it relates to the rent regulated aspect and the engagement with HCR on legal rents that it did add to the

pre-clearance and clearance process.

Just last week, we sent a communication out to the community that

That part of the process for all rent regulated units will now be shifted to after move in

as we have a process where we can still identify if someone has incorrectly charged a rent where the city can collect the overpayments while not impacting someone's ability to move in.

So we should see that impact mitigate.

Down shortly.

We obviously have to get through some of the cases that have built up, but we think that that is a very positive shift that I have heard people in the community are very happy with.

Thank you for that.