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You could soon have the power to buy out your own apartment in Hong, thanks to the introduction of a controversial measure that would make it illegal for landlords to rent apartments that are owned by others.
The measure, which has been on the books since July 2018, has been called the «Landlord-Tenant Ordinance».
The move has been condemned by local residents and politicians as a step backwards in the progress of democracy in HongKong, and has been opposed by local government, the media and the city’s legal watchdog, the Hong Kong Government.
What you need to know about the Landlord-tenant Ordnance:What is the Landlords Property Act?
The Landlords Tenant Ordinances (LTOs) are the key piece of legislation in HongDong, the Chinese province where Hong Kong is located.
The legislation, which was introduced by the Legislative Council in 2017, was intended to ensure that landlords were responsible for ensuring that their tenants were not abused by unscrupulous landlords.
It also aims to encourage landlords to ensure their properties are clean, safe and sanitary.
In the new law, which comes into force on August 15, tenants would only be able to sell their properties if they pay rent, in the form of rent vouchers, or if they are «in good standing».
The law also prohibits rent-seeking, which is defined as buying or selling a property for money.
However, critics argue that the law is not as stringent as the original law, and that it fails to address the problem of «rent-seeking» that has been highlighted by the recent spate of murders in Hong-Kong.
«If the [LTOs] were implemented, a person with the power of purchase would be able at any time to sell or lease a rental property, without having to prove that the property was vacant,» said Wu Yi-chi, the chairperson of Hong Kong’s Housing Rights Association, in a statement.
The new law comes as the city is under increasing pressure from the mainland, which claims it has an obligation to ensure the safety of its citizens.