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Every owner of rental property shall make the following appropriate calculations as indicated in this section for each property covered by this chapter:

A. For the purposes of this chapter, the rent under the rental agreement in effect on June 6, 1978, for each rental unit covered by this chapter shall constitute the base rent. For rental units where no rent was in effect on June 6, 1978, the last rent in effect for that unit in the preceding six months shall constitute the base rent. For rental units where no rent was in effect on June 6, 1978, or in the preceding six months, the base rent shall be a good faith estimate of the average rent in effect for comparable units in the City on June 6, 1978.

B. Commencing on the date on which rent is next due and payable following the date of adoption of the ordinance codified in this chapter and until December 31, 1978, the maximum allowable rent for any rental unit covered by this chapter shall be the base rent as determined in subsection A of this section. (Ord. 5109-NS § 6, 1978)