The State Duma reported on the preparation of a project on long-term rental housing at a reduced rate

The State Duma is developing a bill to regulate long-term inherited rental housing at a lower-than-market rate. This was announced on July 15 by Vladimir Koshelev, first deputy chairman of the State Duma Committee on Construction and Housing and Communal Services.

"We are preparing a bill that will create clear rules for this market. First of all, we focus on large families and low—income citizens who cannot take out a mortgage, but do not qualify for social employment," Koshelev told TASS.

According to him, the preferential rate will become lower than the market rate, in turn, the difference will be subsidized by the region or municipality. The contract with the tenant will be indefinite and inherited. In addition, a temporary residence permit valid for the entire rental period will allow children to attend schools and adults to be attached to polyclinics, the deputy explained.

Koshelev stressed that a powerful incentive is being offered to attract investors — the zeroing of land tax, property tax, VAT and income tax on rental of premises for the construction period and 10 years after the house is put into operation. At the moment, according to him, investors are not interested in implementing such projects due to the too long payback period, the lack of clear rules and relevant legislation. Such measures will reduce the payback period and attract private capital, and from the 11th year the tax burden will become standard.

The deputy noted that the development of long-term leases will attract private investment, create jobs, load the construction complex and help retain young people and specialists in the regions. The project will also solve the issue of waiting lists for housing and form a maneuverable fund, the agency's interlocutor concluded.

The rental rule: the demand for rental housing with the possibility of foreclosure increased by 50%

Such a mechanism allows you to immediately move into housing, but it is associated with certain risks, experts say.

Gennady Karpov, General Director of the Strategy Law Bureau, said on July 7 that most people perceive inheriting real estate as an asset, but they forget that serious risks can pass along with the rights to the heir. According to the lawyer, the first thing that heirs often underestimate is the debts of the testator. If the deceased had loans, litigation, or other financial obligations, creditors can present their claims to the heirs.