Business Daily | by John Mutua
The State will control commercial and residential rents if Parliament adopts a proposed law that seeks to protect tenants from sharp building leasing costs.
The government-backed Landlord and Tenant Bill of 2021 demands that rent increase should not exceed the annual average inflation rate for the preceding year. This means rent increase this year will be capped at 5.2 percent – the average 2020 inflation – if the Bill becomes law.
Landlords have been given a window to breach the average inflation rate in case of sharp increases in rates paid counties…
