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This page features the full text of
Republic Act No. 8437.
REPUBLIC
ACT NO. 8437
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".
Section 1. Beginning
January 1, 1998 and for a duration of four (4) years thereafter ending
on December 31, 2001, monthly rentals of all residential units covered
by Batas Pambansa Blg. 877, shall not be increased by the lessor by
more
than the rates herein provided for:
Period
Maximum
Increase
January 1,
1998 — December 31, 1998 Fifteen percent (15%)
January 1,
1999
— December 31, 1999 Fifteen percent (15%)
January 1,
2000
— December 31, 2000 Fifteen percent (15%)
January 1,
2001
— December 31, 2001 Fifteen percent (15%)
Provided,
That the basis for the maximum increase herein authorized for the
four-year
period shall be the actual monthly rental as of December 31, 1997: Provided,
further, That the increase authorized herein shall be cumulative and
compounded.
Sec. 2. This
Act shall take effect on January 1, 1998, following its publication in
at least two (2) newspapers of general circulation.chanrobles virtual law library
Approved:
December 22, 1997
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