House of Representatives' Housing Committee approves new 'old rent' law
The House of Representatives' Housing Committee approved in principle on Tuesday the newest draft for the old rent law submitted by the government.
At the beginning of the House's plenary session, House Speaker Hanafi al-Gebaly referred a draft law submitted by the government on certain provisions related to rental laws and the reorganization of the relationship between landlords and tenants.
This law replaces the previous draft law submitted by the government to the House of Representatives on April 28 regarding certain provisions related to rental laws.
The referral was made to a joint committee of the Housing, Public Utilities, and Construction Committee and the offices of the Local Administration and Constitutional and Legislative Affairs committees to discuss the articles of the draft law and report upon it.
It relied on the latest version submitted by the government to the House of Representatives on June 16, which included the major features and new legislative proposals to regulate the relationship between landlords and tenants.
New draft law
The draft law stipulates an appropriate transitional period before terminating old lease contracts.
This period is seven years for premises rented for residential purposes, and five years for premises rented to natural persons for non-residential purposes. Tenants are required to vacate the leased premises and return them to the landlord once the transitional period is done.
The law explicitly stipulates the abolition of all old lease laws after the end of this transitional period.
The law stipulates that after the end of the transitional period, old lease contracts shall be terminated and the rental relationship shall be freed up, such that all lease contracts shall become subject to the provisions of the Civil Code, subject to the mutual consent of both parties.
The draft law also stipulates increasing the legal rental value of places rented for residential purposes in distinguished areas by twenty times the current legal rental value, with a minimum amount of LE 1,000, and by ten times the current rental value of units located in medium and economic areas, with a minimum amount of LE 400 in medium areas, and LE 250 for units located in economic areas.
It also stipulates increasing the legal rental value of places rented to naturalized persons for purposes other than residential purposes by five times the current rental value, and increasing the rental value of places rented for residential and non-residential purposes during the transitional period periodically annually by 15 percent.
According to the law, inventory committees will be formed within the scope of each governorate, specializing in dividing the areas containing premises rented for residential purposes subject to the provisions of this law into distinguished, medium, and economic areas, and determining the rental value due based on this classification, provided that these committees complete their work within three months from the date of the law's entry into force.
Edited translation from Al-Masry Al-Youm
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