If I understand correctly, since our Santa Clara, CA rental (primary converted to rental) is owned by me and my husband and not by an institution, we are exempt from the AB 1482 rent cap rule. Problem is, we weren't aware of this change and we used an old CA lease template to get a fixed term 2 years lease signed(newer template has this covered). The lease is signed in June 2026 for 2 years. We learned after that fact that this rental cap doesn't apply to us and that the rents in the area have gone significantly up and we are atleast $1200-$1500 behind per month in rent compared to the current market rent.

We still have a big mortage on this house which went up recently by quite a big amount due to 7 year ARM. It would be great if we can get better rent atleast when the 2 years lease is over.

Question is - Can we send an amendment(see below) to the current signed lease saying the AB 1482 doesn't apply to us and get it signed by the tenants so we can increase the rent when current lease is due for renewal. It seems only fair when your mortage goes up, cost goes up and the market allows higher rent.

“This addendum is being provided solely to update the rental agreement to reflect applicable California statutory disclosures. It does not change the rent, lease term, security deposit, maintenance obligations, or any other existing terms of the current lease. The current lease remains in full force and effect.”

Appreciate your guidance.