Application
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THURSDAY, MAY 21, 1992
Rent Control Mechanisms under Parts I and II of the Landlord and Tenant (Consolidation) Ordinance
Part I Control
Tenancies in pre-vax domestic premises
Fart II Control
Tenancies created before 10 June 1983 in post-war domestic premises:
(a) built before 19 June 1981
and
(b) with a rateable value of
less than $30,000 in 1983.
Determination
of Controlled Rent
(a) Current
System
(b) Proposed
Changes
Maximum Rent
48 times the Standard Rent (rent payable on 25 December 1941) provided it does not exceed the prevailing market rent (PMR).
Minimum Rent
Not specified
To increase progressively the standard rent
multiplier and to specify a minimum level of controlled rent, as follows:
Maximum Rent
1.3 times the current rent provided it does not exceed the prevailing market rent (PMR) or is not less than the Minimum Rent.
Minimum Rent
70% of the prevailing market rent.
To increase the percentage governing the minimum rent in steps, as follows:
Year
Minimum Rent
Standard
Rent
Minimum
1992
Year Multiplier Rent
1993
1994
1992
55
60% of PMR
1993
65
75% of PMR
1994
'75
92.5% of PMR
77.5% of PMR 85% of PMR 92.5% of PMR
Ernquency of Rent Increase
Provided that the rent
determined by a multiple of the standard rent is not less than the Minimum Rent.
No rent increase can be made within 12 months from the date of the Jast increase.
No rent increase can be made within 24 months from the date of the last increase,
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