Kahlon Introduces Bill to Lower Rent Prices

Finance Minister Moshe Kahlon introduces bill to protect renters. 'Fair Rent Law' would standardize prices and limit increases.

Matt Wanderman ,

Moshe Kahlon
Moshe Kahlon
Flash 90

Newly appointed Finance Minister Moshe Kahlon (Kulanu) has proposed his first bill, following up on election pledges to focus on bringing down rental prices.

The bill is entitled "The Fair Rent Law," as reported by Channel 2 today (Tuesday).

The law would standardize rental prices and limit a landlords' ability to raise their tenants' rent. Should it pass, landlords will not be able to freely raise rent for a period of three to five years. During that time the rent will either be tied to the market or increase by two percent per year.

Legislators showed great interest in the bill and agreed to go over it within the next two months. It may even be presented before Kahlon finishes putting together his housing plan.

Kahlon campaigned on a primarily economic platform, promising to break up monopolies and lower the cost of living.