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Cabinet passes bills aimed at improving tenants' rights Updated: 2020-07-31 07:56:13 KST

A special Cabinet meeting on Friday morning has given the green light to two bills aimed at bettering tenants' rights.
The bills, one of which is a revision of the Housing Lease Protection Act, and the other, a revision of the Commercial Building Lease Protection Act, will now go into effect.
The new legislation on housing leases will allow tenants to renew their housing lease contracts by up to 2-more years from the first two years guaranteed under the current law.
It also caps rent increases at 5-percent when home lease contracts are extended.
The revision comes amid public anger over property prices, which have skyrocketed despite repeated attempts to make homes more affordable.

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