Philippines rent control law expired with the arrival of New Year itself. With this law, owners were checked against uncontrolled hikes in the rental prices, thus giving protection to low-income tenants and boarders.
With its expiration, people have fallen again under the trouble of uncontrolled rents. At first, the house of Philippines didn’t seem to have any plans on extending the law, but now the House Speaker itself assured the swift passage of the bill to extend the rent control law. According to the announcement made by the House Speaker Prospero C. Nograles, the new rent control law will be effective for 3 years - until 2011.
The rent control law was first made into existence in the year 1999. Since then, it was extended twice, in 2002 and 2005. The new extension will be the third one, which is intended to support people with low incomes as well as people with insufficient funds to buy a own house.
With its expiration, people have fallen again under the trouble of uncontrolled rents. At first, the house of Philippines didn’t seem to have any plans on extending the law, but now the House Speaker itself assured the swift passage of the bill to extend the rent control law. According to the announcement made by the House Speaker Prospero C. Nograles, the new rent control law will be effective for 3 years - until 2011.
The rent control law was first made into existence in the year 1999. Since then, it was extended twice, in 2002 and 2005. The new extension will be the third one, which is intended to support people with low incomes as well as people with insufficient funds to buy a own house.
