Rent hike among lower income families capped at 4%

The National Human Settlements Board (NHSB) has placed a four-percent cap in the increases of rent for housing worth P10,000 a month and below.

This policy will be effective from January 1 to December 31, 2024. 

The NHSB passed Resolution No. 2023-03 providing for the continuous implementation of regulation of rent and promoting of affordable housing in the country.

According to the Department of Human Settlements and Urban Development, the policy was put in place "to avoid unwarranted increase in rental rates among lower income families."

“The decision was based on the recommendation of the National Economic and Development Authority to set a uniform maximum percentage increase at the upper bound of the inflation rate target of the current administration,” the DHSUD said in a press statement. 

The NHSB is an attached agency of the DSHUD. 

Republic Act No.  9653 or the “Rent Control Act of 2009” authorizes the DSHUD to regulate the rental rates of certain residential units; determine the period of regulation and its subsequent extensions, if warranted; determine the residential units covered; and adjust the allowable limit on rental increases per annum. —NB, GMA Integrated News