08:21 PM Saturday, January 20, 2024
Written by Dalia Al-Dhanini:
Mustafa Abdel Rahman, head of the Old Rental Landlords Coalition, confirmed that old rent represents about 7% of the volume of real estate in Egypt, at a rate of 3 million units in various governorates.
Abdel Rahman said, during his meeting with the journalist Azza Mustafa, on the “Editing Hall” program, on “Sada El Balad” satellite channel, that several solutions were proposed for the problems of the old rent, as a proposal was presented to raise the rent value to 1,000 pounds as a minimum for a period of 3 years for residential units, After this period, there will be a new contract with a new value, and the owner will set the rent value that he deems appropriate for him.
He continued: “With regard to commercial units from the old lease, a proposal was presented to resolve them by leaving a grace period for the tenant of 6 months, with a minimum of 2,000 pounds and a maximum of 10,000 pounds, after which a new lease contract is drawn up with a new rental value, explaining that the value of amending old lease contracts varies according to the region.” .
Mustafa Abdel Rahman explained that there are citizens who pay one or two pounds to rent an old residential unit, adding: “The value of the old rent for shops starts from 10 pounds as a minimum and the highest value is 50 pounds.”
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