City Council 2 3 2026 Agenda Item N 1 Fair Rate of Return Petition

The City of Oxnard City Council discussed amendments to the rent stabilization ordinance, specifically focusing on the fair rate of return petition regulation. This regulation allows landlords to petition for rent increases above the standard 4% cap if they can demonstrate financial hardship or insufficient returns on their property. The meeting reviewed revisions to the petition process to ensure clarity, consistency, and fairness for both landlords and tenants. Key updates included defining petition completeness, timelines for submission and review, documentation requirements, and provisions for hardship appeals, particularly for low or moderate income households. The collaborative process involved community stakeholders, legal counsel, and city staff to balance tenant protections with landlords' constitutional rights to a fair return.