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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. ...

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