Ministers approve bill preventing landlords from raising rent by more than 2% each year

A proposal to improve conditions for renters was approved by the Ministerial Committee for Legislation on Monday.

The “Fair Rental Bill” by MKs Stav Shaffir (Zionist Union) and Roi Folkmann (Kulanu) bars landlords from raising rent for three years, and once they can increase it, it cannot be by more than two percent per year, even if there is a new tenant. In addition, landlords may not terminate a contract without cause.

The bill’s explanatory portion states that it seeks to bring stability to renters’ lives, allowing them to live in the same place for several years and preventing landlords from making renters choose between a much higher rent that does not necessarily match prices on the market, and the cost and trouble of moving.

Source: http://www.jpost.com/Israel-News/Politics-And-Diplomacy/Ministers-approve-bill-preventing-landlords-from-raising-rent-by-more-than-2-percent-each-year-410404

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