The Union Cabinet has approved the Model Tenancy Act for circulation to all States / Union Territories by enacting fresh legislation or amending existing rental laws as per Press Release dated 02.06.2021.
Salient features of the Act are:
- It will facilitate unlocking of vacant houses for rental housing purposes.
- Private participation in rental housing as a model for addressing huge housing shortage.
- It will enable creation of adequate rental housing stock for all the income groups thereby addressing the issue of homelessness.
- It will further enable institutionalisation of rental housing by shifting it towards the formal market.
- It will establish Rent Authority to regulate renting of premises.
- It will protect the interests of landlords and tenants.
- It will provide speedy adjudication mechanism.
*Tanvi Singh, Editorial Assistant has put this story together.
