RENT CONTROL LAW, AS AMENDED
Download as PDF
Download as Word
Collections
Create new Collection
Overview
Full Text
Details
Case
Agency Issuance Number
Published Date
RENT CONTROL LAW, AS AMENDED
Republic Act No. 8437
December 22, 1997
Case Overview and Summary
Summary of Republic Act No. 8437Rent Control Period Extension
- Extends the rent control period for certain residential units covered by Batas Pambansa Blg. 877 for four (4) years, from January 1, 1998 to December 31, 2001. (Section 1)
Maximum Rent Increase
- Specifies the maximum rent increase allowed for each year during the four-year period:
• January 1, 1998 - December 31, 1998: 15% (Section 1)
• January 1, 1999 - December 31, 1999: 15% (Section 1)
• January 1, 2000 - December 31, 2000: 15% (Section 1)
• January 1, 2001 - December 31, 2001: 15% (Section 1)
Basis for Rent Increase
- The basis for the maximum rent increase shall be the actual monthly rental as of December 31, 1997. (Section 1)
Cumulative and Compounded Increase
- The increase authorized shall be cumulative and compounded. (Section 1)
Effective Date
- The Act shall take effect on January 1, 1998, following its publication in at least two (2) newspapers of general circulation. (Section 2)
Amends
n/a
Amended by
n/a
Tags
Statutes
Republic Acts
rent control
residential units
rent increase
maximum rent
rent regulation
rental rates
lease agreements
tenant rights
landlord obligations
housing laws
real estate laws
property laws
Law
RENT CONTROL LAW, AS AMENDED
Republic Act No. 8437
•December 22, 1997
Republic of the Philippines
Congress of the Philippines
Metro Manila
Tenth Congress
Republic Act No. 8437 December 22, 1997
AN ACT FURTHER EXTENDING THE RENT CONTROL PERIOD FOR CERTAIN RESIDENTIAL UNITS AMENDING THEREBY BATAS PAMBANSA BLG. 877 ENTITLED: "AN ACT PROVIDING FOR THE STABILIZATION AND REGULATION OF RENTALS OF CERTAIN RESIDENTIAL UNITS, AND FOR OTHER PURPOSES, AS AMENDED"
Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled::
Section 1. Beginning January 1, 1998 and for a duration of four (4) years thereafter ending on December 31, 2001, monthly rentals of all residential units covered by Batas Pambansa Blg. 877, shall not be increased by the lessor by more than the rates herein provided for:
PERIOD
MAXIMUM INCREASE
January 1, 1998 - December 31, 1998
Fifteen percent (15%)
January 1, 1999 - December 31, 1999
Fifteen percent (15%)
January 1, 2000 - December 31, 2000
Fifteen percent (15%)
January 1, 2001 - December 31, 2001
Fifteen percent (15%)
Provided, That the...
Login to see full content
Amends
n/a
Amended by
n/a