08:00 AM Sunday 03 March 2024
Books – Amr Saleh:
Amr Fouad Awad, a lawyer, revealed the fate of closed apartments rented under old lease contracts after the recent amendments made to the old rental law during the last period.
Fouad added to Masrawy that the amendments approved to the old rental law relate to the property rented for a non-residential activity and do not affect residential samples at all.
He explained that last March, the President of the Republic ratified Law No. 10 of 2022, regarding some procedures and dates for evacuating places rented to legal persons, for purposes other than residential, in light of the effects and economic repercussions of the Corona virus.
The lawyer continued: “According to Article No. (1) of the law, it applies to places rented to legal persons for purposes other than residential, and Article (2) of the law stipulates that the places rented to legal persons for purposes other than residential must be vacated upon the expiration of a period not exceeding 5 years from the date of Applying the law, unless otherwise agreed upon, means that the rented place will be vacated in March 2027.”
He added: Article (3) also specified the rental value, during the period of 5 years, and stipulated that, as of the effective date of this law, March 2022, the legal rental value of the leased places subject to its provisions shall be 5 times the applicable legal value, and then the last value shall be increased annually and periodically. According to this law, the rent is due at a rate of 15%, which means that the rent for these places will be increased by 15%.
With regard to Article (4) of the law, it obliges the tenant to vacate the rented place and return it to the owner or lessor, as the case may be, on the day following the end of the 5-year period specified in Article (2) of this law. In the event that the tenant refrains from doing so, the owner or lessor, as the case may be, has the right to The judge of temporary matters at the court in whose jurisdiction the property is located is requested to issue an order to evict the person who abstains from eviction, without prejudice to the right to compensation, if applicable.
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