Joint sitting of the Parliament on Wednesday approved the Islamabad Rent Restriction (Amendment) Bill 2021 aimed at protecting rights of tenants and landlords,
The bill was tabled by MNA Ali Nawaz Awan in the House.
It was the longstanding demand of tenants and landlords seeking amendment to the Islamabad Rent Restriction Ordinance 2001.
As per the bill, every agreement between landlord and tenant shall be presented before the rent controller for record keeping while any payment, related to tenancy agreement shall be made through cross cheque and or with an official receipt/acknowledgement.
Rent of commercial and residential buildings will be annually increased by 10pc unless the parties decide to enter into an agreement, contrary to this one, in writing.
Dispute resolution between landlord and tenant there shall be a mediation council to be presided by the president Islamabad Chamber of Commerce or his nominee as its Convener.
A representative of the tenant and the landlord will both constitute as members of the council.
The Controller, before proceeding with a case shall refer it to the Mediation Council. In case of no settlement, the Controller shall proceed with the case.
In case of a settlement, the order passed by the Controller in accordance with the decision of the Mediation Council shall be considered final.