Measure To Curtail Commercial Rent Hikes Passes
Stock quotes in this article:
HRP
HONOLULU (AP) Businesses that lease property in the Sand Island, Kalihi Kai and Mapunapuna areas of Honolulu would be given more leverage in rent disputes in legislation headed to Gov. Linda Lingle's desk.
The House and Senate on Tuesday approved a bill that would mandate "fair and reasonable" rents when leases are renegotiated in the three industrial areas. The measure would require arbitrators to consider the use and characteristics of the land. However, its provisions would only be in effect for one year. The legislation grew out of complaints from more than 180 businesses that lease property in the areas that landowner HRPT Properties Trust, a Massachusetts firm, has been pushing exorbitant rent hikes.- Loading Comments...
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