Egypt Daily News – The House of Representatives has, during the latest general session today, given preliminary approval to a draft law submitted by the government concerning the amendment of the old rent law.
The draft law aims to create a degree of balance between both parties in the rental relationship by addressing the imbalances caused by previous exceptional legislations, which led to a decline in rental value despite changes in economic conditions.
The draft law is based on a philosophy of gradual and realistic reform. It proposes a gradual increase in rental value, provides transitional periods before ending rental relationships, and allows tenants to obtain alternative housing units from the state, according to the mechanisms outlined in the draft.
Recently, the joint parliamentary committee comprising members from the Housing, Local Administration, and Constitutional and Legislative Affairs Committees—approved the draft law submitted by the government regarding certain provisions regulating old rent laws.
