What the rental pol­icy is all about

HT Estates - - FRONT PAGE -

What it means: The draft Na­tional Ur­ban Rental Hous­ing Pol­icy pro­poses an in­de­pen­dent author­ity for reg­is­tra­tion of all ten­ancy agree­ments and a sep­a­rate court for re­solv­ing dis­putes

What will it do? It will un­lock a huge amount of rental stock in the mar­ket as more own­ers will be en­cour­aged to rent houses. Cur­rently, the rental yield is very low at 1-2% and own­ers fear that the ten­ant will not move out after the lease has ex­pired

Reg­u­la­tor to track rent and fix prices: The law will al­low land­lords to charge rents — to be de­cided by state gov­ern­ments — at par with mar­ket rates. States would also have the power to put a cap on rent rates

Re­lief to land­lords: The move will bring re­lief to land­lords of old prop­er­ties in many cities, in­clud­ing Delhi, which is sad­dled with ten­ants who have been pay­ing rent­fixed six decades ago

Safe­guards for ten­ants: They won’t have to live in the fear of get­ting evicted at the whims of the land­lord. All te­nan­cies en­tered into after the com­mence­ment of the act shall be for a pe­riod as agreed be­tween the land­lord and the ten­ant and as spec­i­fied in the ten­ancy agree­ment

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