Republic Act No. 8437

: The main purpose of Republic Act No. 8437 is to further extend the rent control period for certain residential units and to amend Batas Pambansa Blg. 877 regarding the stabilization and regulation of rentals of these residential units.
: The maximum allowable increase in monthly rentals is fifteen percent (15%) per year for the period from January 1, 1998 to December 31, 2001.
: The rent control period is extended for four (4) years beginning January 1, 1998 and ending December 31, 2001.
: The maximum increase authorized for the four-year period shall be based on the actual monthly rental as of December 31, 1997.
: The increase authorized is cumulative and compounded, meaning each year’s increase applies to the prior year's adjusted rent.
: All residential units covered by Batas Pambansa Blg. 877 are subject to the rent control provisions of Republic Act No. 8437.
: The Act took effect on January 1, 1998, following its publication in at least two newspapers of general circulation.
: It amends Batas Pambansa Blg. 877, which is the law providing for the stabilization and regulation of rentals for certain residential units.
: The provided text does not specify penalties for violating the rent increase limitations.
: Republic Act No. 8437 shall take effect following its publication in at least two (2) newspapers of general circulation.