Tread carefully on proposed rent control law, govt told

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Rent control is not a good idea as it removes the incentive to improve or properly maintain units as the prospects of profit would be limited, says an economist.PETALING JAYA: Property experts say a proposed law that will stop landlords from raising rentals indiscriminately should only apply to certain situations as it can distort the market.Housing and Local Government Minister Zuraida Kamaruddin has said the Residential Tenancy Act would take into account the interest of both landowners and tenants while ensuring that owners did not raise rental rates or evict tenants at their whims and fancies.The bill will be tabled next year.Henry Butcher chief operating officer Tang Chee Meng said ideally, market forces should be allowed to determine rental rates.Tang Chee Meng.“However, there are certain circumstances or situations which may merit some kind of intervention by the govern…