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Republic Act No. 7644

REPUBLIC ACT NO. 7644 - AN ACT FURTHER EXTENDING THE RENT CONTROL PERIOD FOR CERTAIN RESIDENTIAL UNITS, AMENDING THEREBY BATAS PAMBANSA BLG. 877, ENTITLED AN ACT PROVIDING FOR THE STABILIZATION AND REGULATION OF RENTALS OF CERTAIN RESIDENTIAL UNITS AND FOR OTHER PURPOSES, AS AMENDED

REPUBLIC ACTS




Republic of the Philippines
Congress of the Philippines

Metro Manila

Ninth Congress


REPUBLIC ACT NO. 7644
December 28, 1992

AN ACT FURTHER EXTENDING THE RENT CONTROL PERIOD FOR CERTAIN RESIDENTIAL UNITS, AMENDING THEREBY BATAS PAMBANSA BLG. 877, ENTITLED "AN ACT PROVIDING FOR THE STABILIZATION AND REGULATION OF RENTALS OF CERTAIN RESIDENTIAL UNITS AND FOR OTHER PURPOSES," AS AMENDED

Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:

Section 1. The effectivity of Batas Pambansa Blg. 877, entitled: "An Act Providing for the Stabilization and Regulation of Rentals of Certain Residential Units and for Other Purposes," as amended, is hereby extended for five (5) years from January 1, 1993 to December 31, 1997: Provided, That the allowable maximum increase for the five-year period shall not be more than the rates herein provided:

periodmaximum increase
January 1, 1993 - December 31, 1993Twenty percent (20%)
January 1, 1994 - December 31, 1994Twenty percent (20%)
January 1, 1995 - December 31, 1995Twenty percent (20%)
January 1, 1996 - December 31, 1996Twenty percent (20%)
January 1, 1997 - December 31, 1997Twenty percent (20%)
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Provided, further, That the basis for the maximum increase herein authorized for the five-year period shall be the actual monthly rental as of December 31, 1992: Provided, finally, That the increases authorized herein shall be cumulative and compounded.chanrobles virtualaw library

Sec. 2. This Act shall take effect on January 1, 1993 following its publication in at least two (2) newspapers of general circulation.

Approved: December 28, 1992.




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