HOUSE RENTS

Southland Times, Issue 21854, 3 November 1932, Page 5

HOUSE RENTS

RESTRICTION BILL OUTLINED. (From Our Parliamentary Reporter.) Wellington, November 2. Legislation limiting the amount of rent that may be charged for. houses is revised in the Rent Restriction Bill which was introduced into the House this afternoon and read a first time. The Rent Restriction Continuance Act expired on October 31 last and the purpose of the present measure is to revive it and keep it in operation until August 1, 1933. By the Rent Restriction Act 1926 as amended by the Rent Restriction Continuance. Act of 1927, legislation as to the restriction of rent ceased to have application to any dwelling house after May 1, 1928, unless it had then been or was thereafter expressly applied thereto by order of the Magistrate’s Court made on the application of the tenant. In no circumstances does the law apply or can it be applied to dwelling houses erected after November 1, 1920, or first let after that date even. In the case of dwelling houses to which the Act has been applied, a landlord is entitled to claim and receive an annual net rent equal to seven per cent, of the present capital value after rates, insurance and other necessary outgoings have been deducted.