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Wednesday, October 31, 1973
RENT BILL WILL NOT LEAD TO RUSH FOR INCREASES
Tenants Urged To Seek Advice Before Paying Higher Rents
The new rent Bill strikes a balance between the expectations
of landlords and the pockets of tenants and provides a mechanism for
on-going revisions of rents, the Secretary for Housing, the Hon. I. Lightbody
said in Legislative Council today.
By excluding newly built premises, it also provides the necessary
encouragement for greater efforts by private developers, he added.
Explaining the Landlord and Tenant (Consolidation) (Amendment)
(No. 2) Bill, Mr. Lightbody said its duration was fixed at three years
because the imbalance between supply and demand which drove rents up
was unlikely to be corrected any sooner, especially as there was a
rising demand for more house-space.
He recognised however that the remedy lay in building more houses
rather than rent-regulation. The Rousing Authority will make a substantial
contribution through its 10-year programme, but much will depend on the
private developers' contribution.
This would require more positive action on providing larger land
areas for private development he said, and this was underlined in the
Governor's recent address to the Council.
Under the new Bill, about 60,000 post-w-r domestic tenancies
which are not controlled by the 1970 legislation, together with those
premises certified for occupation during the life of the "rent freeze"
legislation introduced last June will now be brought under control.
/Mr. Lightbody