Yesterday, the Third- Standing Committee of the Legislative Assembly (AL) concluded its article-by-article analysis on the government’s proposal to amend the city’s rental laws. The AL president, Ho Iat Seng, said that the bill will be discussed in the AL plenary later this month.
The amendment of the city’s rental bill mandates the extension by an additional year of the city’s current minimum of two-year rental contracts. It also proposes a rental control mechanism, a rate based on a coefficient set by the Chief Executive according to factors like the consumer price index and housing market conditions.
The agreement was signed after the Third-Committee meeting yesterday, where the amendment was under discussion. It will now be forwarded to the wider legislature for its second reading, with Ho Iat Seng hopeful it can be approved before this assembly’s term comes to an end on August 15.
Ho said yesterday that it was a good thing that the committee could sign the agreement and that it now awaits its final discussion in the AL.
The controversial bill has come under fire by real estate associations, which claim that the bill unfairly advantages tenants at the expense of owners. They have called for the government to reconsider the proposed law.
Other concerns centered on the capacity of public notary offices in Macau to service a rise in demand if, as the bill decrees, all contracts will need to be signed with an official witness.
According to public broadcaster TDM, Cheang Chi Keong, the head of the Legislative Assembly panel, said yesterday that some 57 private notaries in the city can also fulfill this requirement.
