Montego Bay, April 30, 2019 – Jamaica – Minister without Portfolio in the Ministry of Economic Growth and Job Creation, Senator the Hon. Pearnel Charles Jr., says that Government is updating the Rent Restriction Act in order to create a viable rental industry and provide equity for tenants and landlords.
He said
that the Act must protect both parties, ensuring that renters can have access
to adequate, safe and legal housing solutions, while, at the same time, encouraging
property owners to rent their premises.
“If
the Rent Restriction Act does not afford for protection in an equitable way,
then you are going to have less persons wanting to be landlords,” he argued.
“We
want to be able, as we create this enabling environment, to look at all of the
specific and unique challenges and create the solutions, so that we have a
framework that is equitable and that is stimulating the kind of growth in a
sustainable way that we need in Jamaica,” he added.
Senator
Charles Jr. was addressing the Realtors Association of Jamaica (RAJ) symposium
at the Montego Bay Convention Centre in St. James on Friday (April 26). He said that among the proposed amendments is
a change of name to the Rent Act and to bring the matter of security deposits
under the ambit of the Act, in order to standardise the number of months for
which deposits are to be charged, including guidelines for use and refund to
the tenant.
“We
want to expand the powers of the Rent Assessment Board by bringing the recovery
of possessions under its portfolio, as well as to limit the number of
extensions to length of stay,” he noted further.
The
amendments will also outline the minimum standard for rental premises including
that the building must be structurally sound, walls and flooring intact and the
roofs free of leaks.
“We
want to also deal with permissible rent, which is severely outdated. I think it
is now based on a date from 1980, so we hope to move that forward to within five
years of the market value,” Senator Charles Jr. said.
“We
want to include specific definitions of terms in the Act, treat with notice to
quit, where the owner can use his or her intention to sell the property as a
valid reason for issuing a notice,” he added, noting that fines and penalties
for breaches will also be updated.
He informed
that the legislation is with the Chief Parliamentary Council, “so we hope that
it will be moved through quickly”.
The
Rent Restriction Act was enacted in 1944 and was last amended in 1983. It was developed at a time when tenants were
being seriously disenfranchised and was focused towards their protection.
The
RAJ symposium, held under the theme ‘Real Estate Investment 2019: A Road Map’,
included presentations on property rights and unregistered lands; investing in
the Airbnb product; improving home ownership opportunities; and the Rent
Restriction Act. The event concluded with a panel discussion.
Contact: Serena Grant
Release: JIS
Photo Captions:
Header: Minister without Portfolio in the Ministry of Economic Growth and Job Creation, Senator the Hon. Pearnel Charles Jr., addresses stakeholders during the Realtors Association of Jamaica (RAJ) symposium held on Friday (April 26) at the Montego Bay Convention Centre in St. James.
Insert: Stakeholders in attendance at the Realtors Association of Jamaica (RAJ) Symposium, which was held on Friday (April 26) at the Montego Bay Convention Centre in St. James.