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Rent-to-own law potential solution to old rent deals

BEIRUT: A purposed rent-to-own law is part of a solution to Lebanon’s old rent laws dilemma, an expert said at a lecture Thursday. “Passing the rent-to-own law would contribute, at least partially, in finding solutions to renters and landlords [under Lebanon’s old rent laws],” legal expert Paul Murkos said. “On one hand it gives back landlords their property and on the other it helps renters become home-owners and does not render them homeless,” he added. Murkos said the law should allow the Public Housing Institute, a state-owned housing loan provider, five to six years to construct apartment buildings in various Lebanese areas. Renters under the old rent law could move to these apartments and in five to six years purchase it at a fixed price that doesn’t exceed $50,000. 

 
A version of this article appeared in the print edition of The Daily Star on October 05, 2012, on page 5.
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