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May 29, 2007

Rents frozen at 1947 levels?

I really don't understand this article, "Time for rental reforms in the Caribbean":

"The most restrictive is the US Virgin Islands. Rents are frozen at their 1947 level. For housing accommodations, the maximum rent ceiling is the rent in force and in effect on July 1, 1947. For buildings created and/or rented after July 1, 1947, the maximum rent allowed is the first rent charged for the unit."

Is this actually true (in a legal sense - I know it is not being enforced)? Does this refer to some arcane statute? When I lived on St. Thomas people seemed to charge whatever they wanted for rent, and rents were rising all the time.


Cruz Bay Realty - please respond to you'r consumer's at "1947" Levels, personnal sugestions as a feed-back forum? Thank's for all u do!

Posted by: at June 3, 2007 01:14 AM

Hi - Cruz Bay Realty is just a sponsor of this site. I run it - I was in contact with the author of the article, and they sent me some feedback and the relevant code - I just still don't understand it:

The rent freeze is under:
Virgin Islands Code
Chapter 31. Landlord and Tenant
Subchapter III. Rent Control
§ 834. Maximum rent ceilings

(1) for housing accommodations, rents in force and effect on July 1, 1947;
(2) real property used for business purposes or on which superficiary houses are constructed, rents in force and effect on July 1, 1947;
(3) for newly constructed housing or business accommodations first rented on and after the aforesaid maximum rent date, or accommodations changed on or after such date, so as to result in an increase or decrease of the number of dwelling or business units in such accommodations, the first rent for such accommodations after the change or maximum rent date as the case may be, but in no event more than the maximum rent provided for such accommodations by an order of the Rent Control Officer upon application properly made; and
(4) for housing accommodations or real property used for business purposes or on which superficiary houses are constructed, not rented on July 1, 1947, and not covered by clause (3) this section, the last rent in force and effect prior to July 1, 1947. —Amended May 23, 1969, No. 2469, § 5, Sess. L. 1969, p. 124.

A copy of the Virgin Island code is available from the LexisNexis website.

Posted by: Anthony at June 4, 2007 08:04 AM
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