WEDIEST Y, JULY 2, 1986
21
RENTAL MARKET DEVELOPMENTS CAREFULLY WATCHED
*****
SINCE THE LANDLORD AND TENANT LEGISLATION WAS COMPREHENSIVELY REVIEWED IN 1931, THE GOVERNMENT HAS WATCHED DEVELOPMENTS IN THE RENTAL MARKET VERY CAREFULLY AND SINCE 1983 HAS CARRIED OUT A FULL REVIEW ON AN ANNUAL BASIS, THE SECRETARY FOR HOUSING, THE HON JOHN TODD, TOLD THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).
+
+THIS PRACTICE WILL CONTINUE AND I CAN ASSURE MEMBERS THAT THE POINTS WHICH THEY HAVE MADE TODAY WILL BE TAKEN INTO ACCOUNT IN FUTURE CONSIDERATION OF THE LANDLORD AND TENANT (CONSOLIDATION) ORDINANCE, + HE SAID IN WINDING UP DEBATE ON THE LANDLORD AND TENANT (CONSOLIDATION) (AMENDMENT) BILL 1986.
MR TODD SAID LANDLORD AND TENANT LEGISLATION WAS, BY ITS NATURE, COMPLEX AND, IF IT WAS TO ACHIEVE ITS OBJECTIVES IT MUST BALANCE THE NEED TO ENSURE THAT TENANTS COULD ENJOY A FAIR RENTAL SYSTEM WITH ADEQUATE SECURITY OF TENURE WHILE LANDLORDS COULD ACHIEVE A FAIR RETURN ON THEIR INVESTMENT.
HE REFERRED TO THE TWO SPECIFIC POINTS RAISED BY THE HON HO SAI-CHU WHO ASKED WHETHER THE PROPOSAL TO RAISE THE LIMIT IN SECTION 129 OF THE ORDINANCE, WHICH DEALT WITH THE RECOVERY OF PREMISES, WOULD AFFECT SECURITY OF TENURE.
+THE PROVISION WILL ONLY APPLY TO CASES WHERE THE TENANCY HAS BEEN DETERMINED UNDER THE PROVISIONS OF THE LANDLORD AND TENANT (CONSOLIDATION) ORDINANCE AND I CAN CONFIRM THAT THE SECURITY OF TENURE, WHICH TENANTS ENJOY UNDER OTHER PROVISIONS IN THE ORDINANCE, WILL NOT BE AFFECTED, + MR TODD SAID.
MR HO HAD ALSO SUGGESTED THAT THE LIMIT UNDER SECTION 129 WOULD BE BETTER SET AT $12 000, BASED ON AN UPDATING OF PROPERTY VALUES.
+ THE GREAT MAJORITY OF PREMISES UNDER THIS LIMIT HAVE MONTHLY RENTALS OF ABOUT $1 000 AND ARE MAINLY NON-DOMESTIC PREMISES SUCH AS CAR PARKING AND STORAGE SPACES, AND IF WE ARE TO TAKE THIS LIMIT ONLY A SMALL NUMBER OF DOMESTIC PREMISES, MAINLY TEMPORARY STRUCTURES IN RURAL AREAS, WOULD BE AFFECTED, + MR TODD NOTED.
HE THOUGHT THAT THE LIMIT OF $30 000 WAS A REASONABLE ONE WHEN DUE ACCOUNT WAS TAKEN NOT ONLY OF CHANGES IN PROPERTY VALUES SINCE THE LIMIT WAS INTRODUCED, BUT ALSO OF THE CHANGES IN ECONOMIC AND SOCIAL CONDITIONS IN HONG KONG.
0
/22