Gov't sets the value per square meter for house rental

Pursuant to the rule, if a tenant ultimately buys a property under the calculation method attached to the rented house, then the tenant should act likewise based on the same methods

Related Content

People's organizations monitor rental rates in Venezuela

EL UNIVERSAL

Wednesday November 21, 2012 01:58 PM

A new method to estimate the replacement value of real estate has been made formal on Wednesday. Therefore, from now on, it will be possible to set the value of dwellings for rental.

The resolution that sets the value of construction (Bs / M2) according to the type of rented house was published in the Official Gazette No. 40054. The formula will be used "to calculate the fair value set forth in the Law on Regulation and Control of House Rental."

The rule involves the inspection of property.

A check table to set the value of the construction in order to implement the replacement value will apply.

Pursuant to the rule, if a tenant ultimately buys a property under the calculation method attached to the rented house, then in the event of selling the property the tenant should act likewise based on the same methods.

Translated by Conchita Delgado

ADVERTISING SPACE

Dossier

The dialogue experience

José Vicente Rangel clearly said: "We are not conducting negotiations threatened with a gun in the head." He warned behind closed doors in the midst of the social upheaval occurred during the oil strike in 2002 and 2003. Dissenting Timoteo Zambrano answered back that no other option was available: "The thing is that otherwise, you do not negotiate."

Ranking