Video | Old Rent Law to Change: 7-Year Eviction Period and Rent Increased to EGP 1,000
El-Fayoumi: The amendment to the old rent law includes extending the eviction period to 7 years and gradually adjusting rental values.
MP Mohamed Attia El-Fayoumi, Chairman of the Housing Committee in the House of Representatives, revealed new features in the government's draft law to amend the old rent law. He indicated that an agreement has been reached to extend the eviction period for residential units to 7 years instead of 5, in an effort to strike a fair balance between landlords' interests and tenants' rights.
During a phone interview on a television program, El-Fayoumi explained that the amendments also include adjusting the rental value during the grace period, with rent set at 20 times the current rate in upscale areas, and 10 times in middle and lower-income areas, compared to the previous proposal which suggested a uniform multiplier for all areas.
He added that the minimum rent value has been revised to EGP 1,000 per month for units in prime areas, EGP 400 for middle-income areas, and EGP 250 for popular neighborhoods.
El-Fayoumi emphasized that these amendments came after extensive discussions and in-depth studies of the nature of each area, aiming to preserve social balance, avoid sudden burdens on tenants, and at the same time ensure the rights of landlords who have long suffered from extremely low rental returns.
He concluded by noting that the draft law is still under review and discussion within the committee, in preparation for its final presentation to Parliament. He stressed that the new law takes social considerations into account and seeks to achieve fairness and justice without harming any party.
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