Nothing in this title shall be construed to prevent the grant
of a rent adjustment upon application by a landlord when required
to permit a just and reasonable return to the landlord. This section
is a savings clause which provides a basis for a hearing examiner
or the Rent Stabilization Commission to receive relevant evidence,
in accordance with regulations promulgated by the Commission, demonstrating
that a landlord is not receiving a just and reasonable return under
the provisions of the net operating income formula so that the application
of the formula may be modified to provide a just and reasonable return.
Thus, this section does not provide a basis for evaluating rent increase
applications independent of the net operating income formula.
(Prior code § 6415; Ord. 85-59U § 1, 1985; Ord. 85-59 § 1, 1985; Ord. 85-79U § 1, 1985; Ord. 85-79 § 1, 1985; Ord. 87-150U § 1, 1987; Ord. 87-150 § 1, 1987)
