Is Fairfax “rolling back” Rents?

Yes, but only to establish a base rent.

For existing tenants, if you wish to raise the rent after October 6, 2023, you will need to roll back the rent to the March, 2022 amount, plus the maximum allowable rent increase for the period beginning September 1, 2023, which is 2.52% (see further details below on how to calculate the new rent).

For new tenants that enter leases beginning on or after October 6, 2023, you may set the initial rental rate at an amount of your choice. However, this rate will become the base rent subject to the ordinance’s annual general adjustment going forward.

Close window