Beijing Moots Legislation to Permit Government Intervention During Excessive Rent Hikes

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The Beijing municipal government plans to introduce legislation that will permit overt intervention when home rental levels see overly rapid increases.

The Beijing People’s Congress recently conducted a review of the draft version of the “Beijing Residential Property Leasing Regulations” (北京市住房租赁条例(草案)), according to a 24 November report from Beijing Youth Daily.

Under the draft the Beijing municipal people’s government is permitted to “adopt interventionist price measures including restrictions on rent or rental increases when residential property rents rise markedly or could rise markedly.”

The draft also prohibits residential property leasing enterprises from engaging in conduct which “disrupts the market order,” including “driving up rents and fabricating and disseminating information on prices rises.”

Rental enterprises are also prohibited from requiring that tenants provide key money equal to more than one month’s rent, or demand the payment of more than three months’ rent at any one time.

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