A further extension has been issued for the freeze on increases in residential rents.
Minister for Trade, Aiyaz Sayed-Khaiyum said that the freeze which was supposed to end at the end of this month will now be in place from the first of next month until 31st April next year.
Sayed-Khaiyum said that landlords continue to be restricted from increasing rents for any premises that falls under the residential tenancy including ground rental to which the Commerce Commission Decree 2010 applies.
This is to allow for an overall review of the existing rent legislation.
Meanwhile, the Price and Incomes Board had earlier revealed that no person shall charge a rent that exceeds the rent applicable to those premises as at 2nd March 2007.
Story by: Paradise Tabucala.
