Republic Act No. 6643: An act extending the effectivity of batas pambansa blg. 877, entitled "an act providing for the stabilization and regulation of rentals of certain residential units and for other purposes," for another two years

Republic Act No. 6643

An act extending the effectivity of batas pambansa blg. 877, entitled "an act providing for the stabilization and regulation of rentals of certain residential units and for other purposes," for another two years

AN ACT EXTENDING THE EFFECTIVITY OF BATAS PAMBANSA BLG. 877, ENTITLED "AN ACT PROVIDING FOR THE STABILIZATION AND REGULATION OF RENTALS OF CERTAIN RESIDENTIAL UNITS AND FOR OTHER PURPOSES," FOR ANOTHER TWO YEARS

In plain language

This law extends the effectivity of Batas Pambansa Blg. 877 for a two-year period (January 1, 1988 to December 31, 1989) while limiting allowable rental increases to 20% per year, cumulative and compounded. The act becomes effective on January 1, 1988 after publication in at least one newspaper of general circulation.

Extension of effectivity of Batas Pambansa Blg. 877 for two years

Maximum allowable rental increase of 20% per year

Cumulative and compounded increases

Effective date Jan 1, 1988 upon publication

Housing

Rentals

Stabilization

Batas Pambansa

Republic Act

Eighth Congress

Republic Act No. 6643 December 28, 1987

Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:

Section 1

The effectivity of [Batas Pambansa Blg. 877](../../../statutes/bataspam/bp1985/bp_877_1985.html), entitled "An Act Providing for the Stabilization and Regulation of Rentals of Certain Residential Units and for Other Purposes," is hereby extended for another two years for the period January 1, 1988 to December 31, 1989: provided, that the allowable maximum increase for the two-year period shall not be more than twenty percent (20%) for the first year and not more than twenty percent (20%) for the second year; which increases shall be cumulative and compounded.

Section 2

This Act shall take effect on January 1, 1988, following its publication in at least one newspaper of general circulation.

Approved: December 28, 1987.

For information and research only, and not legal advice. This text may not reflect later amendments. For certified copies, refer to the Official Gazette or the issuing agency.