LATEST NEWS Read more
PAG-IBIG REPORTS P20.2B NET INCOME
(POSTED: January 26, 2016)
Pag-IBIG Fund held its State of the Fund Address (SOFA) on Tuesday (Jan. 26) to report on its accomplishments in 2015.
“Pag-IBIG Fund is the Filipino worker’s fund. Our responsibility is to promote savings and to invest in housing. I am glad that Pag-IBIG Fund, led by President and CEO Atty. Darlene Marie B. Berberabe, kept up with President
RENT CONTROL ACT EXTENDED FOR ANOTHER 2 YEARS
(POSTED: January 5, 2016)
The Housing and Urban Development Coordinating Council (HUDCC) has extended the rent control regulation for residential units occupied by low-income brackets for another two years until December 2017.
Effective January 1, 2016 until December 31, 2017, the rent of any residential unit ...
IDLE GOV’T-OWNED LAND
(News Article released by the Manila Bulletin dated 6 December 2015)
Malacañang has issued Memorandum Circular No. 87 directing all national and government agencies to submit an inventory of idle lands that may be used for socialized housing.
The said Memorandum likewise creates an inter-agency task force to identify...
Q AND A ON THE EXTENSION OF RENT CONTROL
1. WHAT IS THE LEGAL BASIS FOR EXTENDING RENT CONTROL?
Rent Control under Republic Act 9653 was approved on July 14, 2009 and expired on December 31, 2013. Upon expiration, the law mandated HUDCC to:
1.1 Continue the regulation of the rental of certain residential units, determine the period of regulation and its subsequent
2. WHAT DID HUDCC DO WHEN THE LAW EXPIRED ON DECEMBER 31, 2013?
The HUDC Council issued Resolution No. 2 in December 2013 extending the Rent Control for another two years at status quo
2.1 Renters in Metro Manila and highly urbanized areas whose monthly rates are P10,000 and below; and
As long as the unit is occupied by the same lessee.
The Council’s decision was based on the preliminary study of the Philippine Statistical Research and Training Institute of the Philippine Statistical Authority, as follows:
2.3 There are about 1.5 million renters nationwide based on the 2012 Family Income and Expenditure Survey;
The status quo was adopted inasmuch as there is a need for further data and validation, such as the Wholesale Price Index for construction materials, for a comprehensive study.
3. RENT CONTROL WILL AGAIN EXPIRE ON DECEMBER 31, 2015. WHAT HAS HUDCC DONE ABOUT THIS?
The HUDC Council issued Resolution No. 1 in June 2015 which extended Rent Control for a period of another two (2) years -
4. WHAT UNITS ARE COVERED BY THE RENT CONTROL EXTENSION?
4.1 Scope of Coverage. The Rent Control covers the following residential units nationwide, whose monthly rent is P10,000
5. WHAT ARE THE NEW RATES OF INCREASE UNDER RENT CONTROL?
5.1 Four percent (4%) annually for those paying a monthly rent/ranging from P1.00 to P3,999.00; and
The respective Housing and Urban Development Committees of both Houses of Congress have approved/confirmed the
6. WHY ARE THERE TWO TIERS NOW COMPARED TO RA 9653?
Provide lower rates of increase to low income renters. The subsequent study done by the Philippine Statistical Research
The study showed that out of the 1.5 million renters in the country, 1.27 million (82%) are renting at less than P4,000 monthly.
Since Rent Control is intended to assist the low income families who are renting, it was decided to lower the rate of increase to
But should not disenfranchise those already covered. Since the existing Rent Control covers those who are renting up to
7. WHAT ARE THE OTHER PROVISIONS OF RA 9653 THAT REMAIN EFFECTIVE?
7.1 REQUIRED ADVANCE RENT AND DEPOSIT
7.2 FORFEITURE OF DEPOSITS
7.3 GROUNDS FOR JUDICIAL EJECTMENT
A. The lessee assigns the lease or sub-leases the unit, without the written consent of the owner/lessor;
7.4 PENALTIES FOR VIOLATION OF ANY PROVISIONS OF THE RENT CONTROL ACT
Any person found guilty of violating any provision of the act shall be fined of not less Twenty Five Thousand Pesos