Market Rate Study 2017 & Proposed Hangar Rates for FY18
Amy Toste | April 19, 2017
Since 1999, the policy at Hayward Executive Airport has been to adjust hangar rental rates based on statistical information. Every two years, the rates are adjusted based on 75% of the local Consumer Price Index (CPI), and every four years the rates are adjusted based on a market rent study conducted by an outside aviation consultant. The market rent study compares the rates charged at Hayward with the rates at other, similar airports throughout the region and the country.
A market rent study was submitted on March 29, 2017. The study recommends that rental rates be adjusted upward for each of the four types of hangars offered at the airport. The results of this study were presented at a meeting of the Council Airport Committee (CAC) on April 13, 2017, and at a tenant meeting on April 17, 2017. Staff is recommending that rental increases be phased in.
Related documents are available at the following links:
City Council must review and approve the proposed rental rates, which are then incorporated in the City’s Master Fee Schedule. This matter is currently on the City Council agenda for May 2, 2017.