RENTAL LAW.
APPLICATION TO DWELLINGS. It is stated that one reason for the hesitation of builders and others in erecting houses for telling purposes has been the impression that the Rent Restriction Law limits all rentals to 8 per centum of the capital value. It has, in fact, been stated by this result the law has tended to defea t its own .object. An authority points out, however, that the 8 per centum provision does not apply to new houses. The effect of the law is as follows: —
Where (he rent charged for a dwelling let before the 3rd August, 1914, was -less than 8 per centum of-its capital value it may be increased by the landlord, but not to an amount exceeding 8 per centum. If the rent already exceeded 8 per centum this rent may be maintained, but cannot be .increased: (hat is the “standard'’ rent. But in the ('use of a dwelling lot for the first time on or subsequently to the 3rd August, 1914, the 8 per centum of the capital value does not apply, and the only restriction is that tint rent at which it was first let, whatever its proportion to the capital value, may not be increased.
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Manawatu Herald, Volume XLII, Issue 2136, 5 June 1920, Page 3
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204RENTAL LAW. Manawatu Herald, Volume XLII, Issue 2136, 5 June 1920, Page 3
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