In Venezuela They Ordered LandlordsTo Sell Real Estate With More Than 20 Years In Rental

The national superintendence of leases of dwellings in Venezuela ordered the owners of buildings that have 20 years or more dedicated to renting their apartments to sell them to their tenants.

There will be a period of 60 days to offer real estate, according to the resolution of the Housing Ministry published Monday in the Official Gazette.

The owners or landlords who fail to comply with the measure will be fined 2,000 tax units (254.000 bolivars) for each property not offered to tenants.

They will have five days to cancel the fine and, in the event of recidivism, this is double.

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