News Briefs

  אב 7, 5771 , 07/08/11

Yishai: Rent Control Law Needed

Interior Minister Eli Yishai suggested on Sunday that the government impose controls on the amount landlords were allowed to charge for rent. Yishai said that his Shas party would advance legislation for rent controls in the Knesset.

“The reforms announced already are an important step in the right direction, but we need more action, such as rent control,” Yishai said. “Under our proposed law, rent would not be allowed to exceed 2% of the market value of an apartment. Such a law would dramatically reduce the amount of rent being payed, and bring prices down to a reasonable level.” Yishai said that he would ask Prime Minister Binyamin Netanyahu to work to advance the legislation. Under the law, an apartment owner whose rental unit is worth a million shekels would be entitled to about NIS 1,700 a month in rent.

Other archived news briefs:Aug 07 2011, 12:28 PM, 8/7/2011