CARACAS, Tuesday November 20, 2012 | Update
HOUSING | Authorities announced

People's organizations monitor rental rates in Venezuela

Superintendent Ana Marina Rodríguez said that the replacement value will be used not only to determine the rental, but also to set the sale price of dwellings located in the buildings used for rental

The costs per square meter are to be released on Wednesday (File photo: Kisaí Mendoza)
Tuesday November 20, 2012  12:44 PM
"The people's power will be an inspector in the streets and work with tax officers to set the amount of rental rates," reported Venezuelan National Rent Superintendent Ana Marina Rodríguez.

"Works will be carried out along with organizations to determine the rental rates," the public servant told state-run TV channel VTV.

One year after the entry into force of the Rental Law, government authorities have not estimated yet the rent to be charged by owners because the Ministry of Housing has delayed setting the replacement value (price per square meter).

According to the authorities, the costs per square meter are scheduled to be published on Wednesday. The superintendent added that proposals had been received from grassroots organizations with regard to the calculation methods.

"There was a joint work to determine the rental rate and the supply preference," she explained. The schedule will also set the sale price of dwellings located in buildings older than 20 years, used for rental.

Translated by Conchita Delgado
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