City bans group renting with new rule
Print Edition
SHANGHAI’S latest regulation on apartment renting came into effect yesterday, which strictly forbids group renting, while apartment subletting will be supervised more effectively.
The new regulation was introduced to facilitate a more stable leasing relationship between property owners and tenants, while promoting a healthy and more manageable apartment renting standards to fulfill people’s living needs, said Ren Yanrui, director of the Commission of Legislative Affairs of the Shanghai Municipal People’s Congress.
Affordable housing will be provided in areas such as university campuses, industrial and commercial areas, and near major metro stations.
The new regulation stipulates that kitchens, bathrooms, balconies, storage rooms and other spaces not designed for living cannot be sublet.
Shanghai has 2.1 million registered rental apartments, accounting for 26.3 percent of the total housing number in the city. About 1.8 million of them are leased out by the property owners, while about 100,000 of the apartments are rented through agencies.
To protect tenants, those subletting apartments for a profit have to register if the number of apartments sublet reaches a certain number.
Also, companies that rent apartments to sublet should open a special account at commercial banks that serve as a firewall. If the tenants were to pay more than three months’ rent and deposit that is more than one month’s rent, the excessive part should go into the account to ensure that the money is not appropriated so as to protect tenants’ rights.
If the firms fail to set up such an account, they will be fined 200,000 yuan (US$29,670).
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
