Regulatory Body Established to Oversee Rent Prices in Major Ethiopian Cities

The FDRE House of People’s Representatives ratified a new Residential Property rent Control and Administration Proclamation no. 1320/2016 that establishes a regulatory body to oversee residential property rent fees in Addis Ababa, Dire Dewa, and other regional cities.

The regulatory entity will determine allowable rent fees by taking into account the country’s existing and prevailing economic conditions and other related matters. The new standard rent amounts are set to come into effect in June 2024, with annual revisions planned by the regulatory body. Additionally, the Proclamation details the regulations for rent fees, the responsibilities of the regulatory entity, the conditions for terminating a lease agreement, and the procedures for handling complaints.

Source- Ethiopian Insider

Download the Amharic version of the draft proclamation here:

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