Extending the Rent Control Period for Residential Units

December 28, 1992

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

 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:

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, 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.

SECTION 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

Published in Malaya and the Philippine Times Journal on January 6, 1993. Published in the Official Gazette, Vol. 89 No. 4 page 441 on January 25, 1993.