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Bacolod City, PhilippinesWednesday, July 15, 2009
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Rent law signed

A new law that aims to protect more than 1.5 million households and those who rent rooms and bed spaces in dormitories was signed by President Gloria Macapagal-Arroyo yesterday, a press release from the office of Sen. Juan Miguel Zubiri said.

Zubiri, principal author and co-sponsor of Republic Act No. 9653 or the Rent Control Act of 2009, said in the press release that it is “one of the socio-economic measures that Congress has lined-up to ease the burden of Filipinos in the face of the global economic crisis.”

With the new law, the annual rate of increase of rent was reduced from 10 percent to seven percent, the press release said.

The Rent Control Act of 2009 retains many of the salient provisions of the previous Rent Control Law which expired last December 31, 2008.

These include the covered monthly rental from one peso to ten thousand pesos for Metro Manila and other highly urbanized cities, and one peso to five thousand pesos for all other areas, the press release said.*

 

 

 

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