The leasing of immovable property is largely governed by the Rental Housing Act as well as the common law.
What the Bill aims to achieve are some well needed amendments (others not), some of which will ensure that a more formal procedure will have to be followed when renting property.
One example of the changes will be to oblige lessors and lessees to enter into a written agreement of lease, which will mean that for a lease to be valid, it cannot be a verbal agreement.
It may seem that this will create an unnecessary burden on the parties to ensure compliance with the Act, however it will actually benefit both parties by ensuring that parties’ rights and obligations are clearly set out, which will also reduce the number of court cases that arise as a result of verbal lease agreements.
If you need assistance with drawing up a lease agreement in order to comply with the new legislation, give us a call today!