RENT CONTROL

Hokitika Guardian, 24 July 1930, Page 5

RENT CONTROL

NEW PROVISIONS IN BILL. r, WELLINGTON, July 22. In addition to proposing a continuance of the rent restriction legislation, the Bill given notice of by the Hon S. G. Smith, Minister of Labour, in the House to-day seeks to remove an anomaly that has retarded building operations in the past. Instances have occurred where, because they did not require them, for their own occupancy, owners of cottages located in growing centres have been unable, through the present restrictions to obtain possession of their houses for the purpose of demolishing them and replacing them with more up-to-date structures. In consequence many proposed building operations have been held up in what are valuable and often slum areas. A clause has Been incorporated in the Bill to overcome this difficulty. The measure makes provision also for the extension for a further twelve months of the Rent Restriction Act, which was due to expire at the end of this month. Under this law. the standard rent has to be determined on the basis of 7 per cent, on the capital value of the dwelling, exclusive of rates, insurance, repairs and depreciation. 'l’he Act does not apply to houses built after November Ist. 1920, or those which, built before that date, have been let to tenants for the first time since then.