“Samopomich” Union offers a new mechanism to reduce prices at rental housing market

At the initiative of people’s deputy Aliona Babak, on December 8 the members of the faction registered a bill on revenue and municipal houses (№3594) whose main purpose is to provide housing for vulnerable social groups, as well as to cause a general cheapening of the market of buying and renting property.

Now in Ukraine there is no possibility to build or use apartment buildings providing residential and non-residential premises for rent exclusively. The bill proposes to introduce an institution of revenue and municipal houses, which not only creates new business opportunities, but also ensures the fulfillment of communities’ social function on providing affordable housing for the least wealthy categories of community residents.

According to the bill, a revenue building is an apartment house which is privately owned and used to provide residential and non-residential premises under lease. A municipal one is a building of communal ownership used to provide dwellings for rent to socially vulnerable persons, while maintenance of this building does not require subsidies from a local budget.

The project takes into account the experience of the developed countries in which rental housing makes up a significant part of the housing stock.

In addition, the bill aims at renewing the tradition of construction of revenue houses which were wide-spread in the cities of Ukraine in the late 19th – early 20th century.

Large-scale construction of revenue and municipal houses can be a reasonable and effective alternative to the current (largely spontaneous) housing market and can reduce the cost of both housing purchase and rent.

 

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