Peabody, Mass., Code of Ordinances ch. 18, art. II (2026) § 18-53

(a) The Rent Board shall by order or regulation, as provided in Section 18-54 , make such individual or general adjustments, either upward or downward, of the maximum rent established by Section 18-51 for any mobile home park accommodation as may be necessary to remove hardships or correct inequities for both the park owner or management and homeowner or resident, and in so doing, shall observe the principal of maintaining rents at levels which will yield to owners a fair net operating income for such mobile home park accommodations.
(b) Fair net operating income shall be that income which will yield a return after all reasonable operating expenses, on the fair market value of the property equal to the debt service rate generally available from institutional first mortgage lenders or such other rate or return as the Board, on the basis of evidence presented before it, deems more appropriate to the circumstances of the case. The fair market value of the property shall be the assessed valuation of the property or such other valuation as the Board, on the basis of evidence presented it, deems more appropriate to the circumstances of the case.
(c) The Rent Board by regulation may establish further standards and rules consistent with the foregoing. The Board may promulgate a schedule of standard rental increases or decreases for improvement or deterioration in specific services and facilities.
(d) Notwithstanding any other provision of this section, the Board may refuse to grant an upward adjustment of maximum rent if it determines that the affected mobile home park accommodation does not comply with the State Sanitary Code or the Building Code, or any other applicable municipal code, ordinance, or State law, regulating the conditions of housing accommodations, and if it determines that such lack of compliance is due to the failure of the park owner or management to provide normal and adequate repairs and maintenance.
(e) The Board may refuse to make a downward adjustment of maximum rent if it determines that the tenant is more than 60 days in arrears in payment of rent unless such arrearage is due to a withholding of rent under the provisions of M.G.L.A. c. 239, § 8A, or if the homeowner or resident is in substantial violation of any enforceable rule of the mobile home park, or if the tenant is in violation of any laws or ordinances which protect the health and safety of other mobile home park residents.
(f) The Board may remove maximum rental levels, established under Sections 18-51 , 18-53 and 18-54 , only after a public hearing and a determination that the need for continuing such maximum rental levels no longer exists. Any maximum rental level removed under this subsection shall be reimposed or adjusted and reimposed after a public hearing and upon a finding by the Board that resumption of rent control is necessary in the public interest. Any action under this subsection shall be subject to the hearing and notice requirements of Section 18-54 (b).