The Addis Ababa City Administration has announced the initiation of the registration process for legal contracts between landlords and tenants, beginning on June 7, 2024. This follows the recent approval of the House Rent Control and Management Bill.
During a meeting held with stakeholders, Kidist Woldegiorgis, the head of the Housing Development and Management Bureau, highlighted that preparations are underway to introduce a directive for the smooth implementation of the rental proclamation.
From June 7 onwards, landlords and tenants can register by submitting their legal documents. The House of People's Representatives sanctioned the House Rent Control and Management Bill in early April 2024, with the aim of safeguarding tenants from unjustifiable rent increases and evictions during the initial two years of a lease agreement. Officials anticipate that this legislation will effectively address the growing issue of unreasonable rent prices in urban areas.
For more articles similar to this, please check out www.livingethio.com and for any queries, please contact us on +251 974 299 472.
Stay informed about the latest real estate news by connecting with us on LinkedIn, Facebook, YouTube, Instagram, and Telegram.