Highlights the benefits of an updated rental law

The president of the Dominican Association of Housing Builders and Developers ( Acoprovi ), Annerys Meléndez, stated that a rental law would expand access to housing in the country, especially for those unable or unwilling to purchase property.

Meléndez explained that not all Dominicans have the ability or interest to buy a home, a situation that is also observed internationally, especially among the younger generations .

"Not every Dominican can or wants to access housing through purchase. This is something that has been experienced not only in our country but internationally, especially among younger generations who sometimes don't prefer to invest a lot of resources in a purchase, or perhaps don't have the resources. Couples just starting out may not be able to afford it; there is affordable housing," he indicated.

In a recent conversation with Diario Libre , Meléndez said that for rentals to work effectively and economically, he noted that clear rules and a law that guarantees legal security for both landlords and tenants are needed.

"There must be a law that covers all forms and provides legal certainty for both the owner of the property and the tenant, so that when there are situations that need to be resolved between the parties to that agreement, they have clear rules. So, that's what the rental law provides," he said.

The union leader assured that updated legislation would allow for more affordable rental prices .

"If a home was previously rented for a certain amount, with a rental law , that cost would go down. How? Due to supply and demand. When there are clear rules, many investors and investment funds will develop projects exclusively for rent, and that will increase supply, which will lower prices," he stated.

In addition to the economic aspect, Meléndez emphasized that competition among owners would improve the quality of housing .

"The conditions of the homes that are going to be rented are going to be much better because now there are going to be many people competing to rent them to the same person, and you're not going to go for the worst-off home; you're going to go for the one in the best condition, the one that's cleanest, the one that's most central, the one that's safest. And, in that sense, these are two fundamental elements that are going to completely change the rental market ," he explained.

Regarding the project's progress in Congress , he said Acoprovi maintains high expectations.

"The President of the Republic promised us that this law would become a reality, just as he did with the housing law. Furthermore, we have held meetings with the Chamber of Deputies and the Senate, and the draft bill under discussion includes observations and updates that will allow for a law that responds to the current needs of the market," Meléndez concluded.

Recommendations

On Wednesday morning, Acoprovi reiterated its support for the Rental Bill , highlighting that this law establishes a regulated framework that benefits tenants, owners, developers, and investors alike by promoting access to decent rental housing under clear rules that reduce uncertainty and strengthen confidence in investing in the sector.

"We value aspects such as the formalization of contracts, the bank registration of deposits, and defined procedures for vacating properties, elements that provide protection and traceability for all parties," Acoprovi said in a statement.

In turn, he specified that Acoprovi believes the project can be strengthened by incorporating improvements that guarantee a fair balance between rights and obligations , such as allowing conciliation within hearings to expedite processes, aspects such as the mandatory purchase option and the limitation of price increases or the number of deposits, constituting a supplementary regime when there is no contractual agreement and eliminating duplication in criminal sanctions, so as not to affect responsible investment.

"We recommend incorporating incentives and details on innovative rental options, such as the option to purchase and low-cost rentals , which will help diversify and expand the housing supply," he said.

The union urges authorities to take into account the recommendations to consolidate legislation that will help reduce the housing shortage, promote investment in rental housing , and guarantee the constitutional right to decent housing.

"Acoprovi reaffirms its commitment to continue working for a more robust, accessible, and fair housing sector for all Dominicans," he added.

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