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This page features the full text of
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
ACT NO. 7644AN
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.
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:
chanrobles virtuallaw libraryred
PERIOD
MAXIMUM INCREASE
January
1, 1993 - December 31, 1993 Twenty
percent (20%)
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January
1, 1994 - December 31, 1994 Twenty
percent (20%)
January
1, 1995 - December 31, 1995 Twenty
percent (20%)
January
1, 1996 - December 31, 1996 Twenty
percent (20%)
chanrobles virtuallaw libraryred
January
1, 1997 - December 31, 1997 Twenty
percent (20%)
chanrobles virtuallaw libraryred
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 virtuallaw libraryred
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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