A. Except as hereinafter provided, an owner shall not demand, accept, or retain rent for a mobilehome space exceeding the rent in effect for said space on the effective date of the ordinance codified in this chapter. If a previously rented mobilehome space was not rented on the effective date of the ordinance codified in this chapter, the owner shall not, except as hereinafter provided, demand, accept or retain rent for said space exceeding the rent in effect during the last month the space was rented prior to the effective date of the ordinance codified in this chapter.

B. Any mobilehome park owner who disputes that the initial base rent established by subsection A of this section is sufficient to cover operation and maintenance costs, rehabilitation costs, and capital improvement costs, and still provide the owner a fair and reasonable return, may seek adjustment to said initial base rent by submitting a written request to the clerk requesting an opportunity to adjust said initial base rent and shall supply both the clerk and each affected tenant with the notice of request along with the grounds for any such request. The matter shall be submitted to arbitration as prescribed in Section 6.50.060(E) through (G).