News

NOV
21
2013

SBN-1945: Extending the Rent Control Period of Residential Units Until December 31, 2017

An Act Extending The Rent Control Period Of Residential Units, Amending Thereby Republic Act No. 9653 Entitled: “An Act Establishing Reforms In The Regulation Of Rent Of Certain Residential Units, Providing The Mechanisms Therfor And For Other Purposes”

  • The bill extends the period for the Rent Control Act for residential units for another four years, from 31 December 2013 to 31 December 2017.
  • Residential unit includes the ff: houses, apartment, land where one’s dwelling is located, boarding houses, dormitories, and bed spaces.
  • The rent for a residential unit covered by the Rent Control Act shall not increase by more than 7% annually as long as it’s occupied by the same lessee.
  • There shall be no increase in rent more than once per year for residential units occupied by students.
  • The coverage of the bill includes residential units in the NCR with monthly rent ranging from one Peso (P1.00) to ten thousand Pesos (P10,000.00), and residential units in areas outside NCR ranging from one Peso (P1.00) to five thousand Pesos (P5,000.00).

 

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