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Important announcement: Starting from October 1, Beijing's rental rent and deposit will be regulated

2024-07-31

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Beijing Youth Daily reporter learned from Beijing Municipal Housing and Urban-Rural Development Commission that after five months of soliciting opinions and revisions, the "Beijing Housing Rental Deposit Trust and Rent Supervision Interim Measures" (hereinafter referred to as the "Measures") were officially released on July 31 and will be implemented on October 1. According to the "Measures", if the housing rental company collects rent for more than three months at a time, the rent must be deposited into a designated rent supervision account. The deposit must also be deposited into a designated deposit trust account.

The Measures are mainly aimed at housing rental companies that rent other people's houses within the city and engage in subleasing business. It has a total of 22 articles, clarifying the management regulations for deposit escrow and rent supervision of housing rental companies from the aspects of opening accounts for deposit escrow and rent supervision, deposit and refund procedures, rent deposit, transfer and refund procedures, and dispute resolution during deposit escrow and rent supervision.

To ensure that the deposit and rent are deposited into the account used for deposit trust and rent supervision as required, the Measures stipulate that the deposit shall be deposited into the account used for deposit trust according to the deposit payment time and amount agreed in the housing lease contract; in terms of rent, if the amount of rent collected at a time exceeds 3 months, the rent shall be deposited into the account used for rent supervision according to the rent payment time and amount agreed in the contract. The 3-month rent shall be transferred to the housing lease enterprise account within 1 day, and the remaining rent shall be transferred monthly, with each transfer amount equal to 1 month's rent.

In order to ensure the safety of deposits and rents and take into account the efficiency of fund use, the Measures clarify the specific refund process for deposits and rents. The Measures stipulate that after the expiration or termination of a housing lease contract, the housing lease company shall submit a refund opinion for the deposit and rent within three working days after the lessee returns the housing, specifying whether to deduct the deposit or rent and the details of the expenses to be deducted. If the lessee agrees to the refund opinion, the deposit and rent will be refunded according to the refund opinion; if the lessee disagrees, it can be resolved through negotiation, mediation, litigation, arbitration and other means.

In selecting banks to open accounts for deposit custody and rent supervision, the Measures stipulate that the Municipal Housing Fund Management Center (i.e. Beijing Housing Provident Fund Management Center) shall, together with the Municipal Housing and Urban-Rural Development Commission and the Beijing Supervision Bureau of the State Financial Supervision Administration, select banks to open accounts for deposit custody and rent supervision through public bidding, taking into account factors such as bank management capabilities, service efficiency, R&D level, and operating conditions. To ensure the safety of funds, the Measures further clarify that the bank that opens the account shall transfer funds in accordance with the instructions of the Municipal Housing Fund Management Center.

In terms of strengthening supervision and management, the Measures clarify the inquiry channels for the parties, and stipulate that the lessee can query the balance of his/her account used for deposit trust and rent supervision through the supervision system and housing rental management service platform through the housing rental contract filing number and other information; at the same time, it clearly strengthens law enforcement supervision, and stipulates that if daily supervision finds that the deposit trust and rent supervision are not performed or there are operating risks, the funds in the rent supervision account can be suspended from being allocated to the housing rental enterprise, and the funds in the supervision account of the housing and construction management departments of each district shall be allocated; for those who fail to perform deposit trust and rent supervision in accordance with the regulations, or fail to return the remaining deposit and rent on time, they shall be punished in accordance with the relevant provisions of the Beijing Housing Rental Regulations. In addition, the Measures clearly encourage the use of digital RMB in deposit trust and rent supervision to ensure the safety of deposits and rents of the parties to the lease.

Text/Beijing Youth Daily reporter Zhao Tingting

Editor/Li Tianji