One reason for the hesitation of builders and others in erecting houses for letting purposes has been the impression that the rent restriction law limits all rents to eight per centum of the capital value. It lias, in fact, been stated that by this result the law has tended to defeat its own object. On reference to the legislation Acts it is found that eight per centum does not apply to new houses. The effect of the law is as follows:—Where the rent charged for a dwelling let before the 3rd day of August, 1014, was less than eiglit per centum of its capital value it may be increased by the landlord, but not to an amount exceeding eight per centum. If .the rent already exceeded eight per centum this rent may be maintained but cannot be increased; that is the "standard" rent. In the case of a dwelling let for the first time on or subsequently to 3rd August, 1014, the eight per centum of the capital valua does not apply, and the only restriction is that the rent at which it was first let, whatever its proportion to the capital value, may not be increased.
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/TDN19200610.2.64.2
Bibliographic details
Ngā taipitopito pukapuka
Taranaki Daily News, 10 June 1920, Page 9
Word count
Tapeke kupu
197Page 9 Advertisements Column 2 Taranaki Daily News, 10 June 1920, Page 9
Using this item
Te whakamahi i tēnei tūemi
Stuff Ltd is the copyright owner for the Taranaki Daily News. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.