HOW THE RENTAL FEE FOR REAL ESTATE WILL CHANGE?
The Edict of the President of the Republic of Belarus No. 150 dated March 29, 2012 introduced a new kind of a basic unit – a basic rent unit. The basic rent unit will be Br 54,000 starting from April 1, 2012 and it will be applicable to determination of rental fees for real estate. In future the basic rent unit will be set by the Council of Ministers every year taking into account annual inflation (the consumer price index of the previous year to the one before) and will come into force from 1 April. The measure is supposed to create an understandable and predictable mechanism to change rental fees for real estate.
The Edict also abolishes state regulation of rental fees for market stalls in privately owned markets and trading centers. Rental fees in these cases will be determined by the agreement of parties.
The document prohibits raising the rental fee due to inseparable improvements performed by tenants. The measure is supposed to protect tenants from higher rental fees in view of the improvements of the property they have accomplished.
STAR PM