FRIDAY, JULY 5, 1991
3
RENT CONTROL TO BE EXTENDED FOR THREE MORE YEARS
* *
THE EXECUTIVE COUNCIL HAS ENDORSED THE EXTENSION
(CONSOLIDATION) OF PART II OF THE LANDLORD AND TENANT THREE YEARS TO DECEMBER 31, 1994.
OF THE LIFE ORDINANCE
FOR
ANNOUNCING THIS TODAY (FRIDAY),
A GOVERNMENT SPOKESMAN
TENURE AND CONTROLS
SAID
THIS PART OF THE ORDINANCE PROVIDES SECURITY OF INCREASES IN RENTS OF CERTAIN POST-WAR DOMESTIC PREMISES.
IT IS DUE TO EXPIRE ON DECEMBER 18, 1991 UNLESS EXTENDED RESOLUTION OF THE LEGISLATIVE COUNCIL.
BY A
AT
AT
THERE WERE THE SPOKESMAN SAID THAT AS AT JANUARY 1 THIS YEAR, 43,000 SUCH TENANCIES BUT ADDED THAT THEIR NUMBER WAS DIMINISHING THE RATE OF ABOUT 5,000 A YEAR DUE TO REPOSSESSION, FRESH LETTINGS MARKET RENTS AND DEMOLITION FOR REDEVELOPMENT.
THAT
CONSIDERATION CAREFUL
HAD BEEN GIVEN TO
HE STRESSED IDENTIFYING A SUITABLE EXTENSION PERIOD FOR PART II.
"GIVEN THE CURRENT
DISPARITY BETWEEN CONTROLLED AND MARKET ADVERSE SOCIAL CONSEQUENCES, IT RENTS AS WELL AS THE NEED TO AVOID
BEFORE 1994, WAS NOT CONSIDERED FEASIBLE TO PHASE OUT RENT CONTROLS HE ADDED).
INTENTION TO PHASE OUT HE SAID IT REMAINED THE GOVERNMENT'S
FORMULATED RENT CONTROLS ON A GRADATED BASIS AND PROPOSALS WERE BEING
ADJUSTED OVER PROGRESSIVELY
THE NEXT TO ALLOW THE CONTROLS TO BE THREE YEARS TO A POINT WHERE THEY MIGHT BE DISPENSED WITH.
TENTATIVELY, IT WAS PROPOSED TO ADJUST ON AN ANNUAL
RENT то
BASIS REACHED
THE MINIMUM
BE MINIMUM PERCENTAGE COMPONENT CONTROLLED TENANCIES) BY SOME 7.5 PERCENTAGE POINTS, HE EXPLAINED.
THE BY
"THIS SHOULD ALLOW THE MINIMUM PERCENTAGE COMPONENT TO RISE WITHIN 10 PER CENT OF THE PREVAILING MARKET RENT BY THE END OF 1994.
"AT THIS STAGE THE CONTROLS SHOULD BE CAPABLE OF BEING WIHTOUT CAUSING HARDSHIP TO AFFECTED TENANTS.
ΤΟ
DROPPED
"THE EFFECT ON INFLATION WOULD BE INSIGNIFICANT IN VIEW OF
HE SAID. SMALI, NUMBER OF HOUSEHOLDS INVOLVED,
M
HE POINTED OUT THAT IT WAS ALSO PROPOSED TO PHASE OUT UNDER PART I OF THE ORDINANCE WHICH AFFECT ABOUT 940 PRE-WAR PREMISES.
THE
CONTROLS DOMESTIC
CEASING
TO
SECURITY
HE DREW ATTENTION TO THE FACT THAT THOSE TENANCIES BE PROTECTED BY PARTS I AND II WOULD CONTINUE TO BE AFFORDED OF TENURE UNDER PART IV OF THE ORDINANCE.
/"IN ADDITIN