Wednesday, October 20, 2010

Rent & Your Rights


Republic Act No. 9653
Rent Control Act of 2009

SEC. 4. Limit on Increases in Rent

1. For a period of one (1) year from its effectivity (approved July 14,2009)
no increase shall be imposed upon the rent of any residential unit.
2. After that until Dec. 31,2013 :

Rent shall not be increased by more than seven (7%) annually
as long as the unit is occupied by the same lessee

SEC. 5. Coverage

1. National Capital Region and other highly urbanized cities - P10,000.00
2. Other areas, - P5,000.00)

without prejudice to existing contracts.


SEC. 7. Rent and Requirement of Bank Deposit

Maximum one (1) month advance rent & two (2) months deposit which shall be kept in a bank under the lessor’s account name

- all interest that shall accrue therein shall be returned to the lessee at the expiration of the lease contract , or
- be forfeited in the amount commensurate to the pecuniary damage done


SEC. 13. Penalties.

1. A fine of not less than P25,000.00 nor more than P50,000.00) or
2. Imprisonment of not less than one (1) month and one (1) day to not more than six (6)
months or
3. both

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