Comment 1 for bug 1085820

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Akihiro Motoki (amotoki) wrote : Re: Unable to modify some quotas with DB quota driver

To update the limits of L3 resource (router, floating IP), we need to specify new values of the quotas after '--'.
quantum quota-update --tenant_id 6f88036c45344d9999a1f971e4882723 -- --floatingip 20

Admin guide has examples how to modify per-tenant quota. I hope it will help you.
http://docs.openstack.org/folsom/openstack-network/admin/content/cfg_quotas_per_tenant.html

Of cource, I agree that such command line options are very confusing and we need to fix it.