Venezuela approves rental law to aid earthquake victims

Venezuela's parliament has unanimously approved a special rental law designed to boost the availability of housing for thousands displaced by a devastating earthquake. The "Law of the Special Regime for the Rental of Properties Intended for Housing" aims to address the urgent need for shelter after the June 24 earthquake, which caused widespread destruction and left over 5,500 dead.

The new legislation comes after decades of legal uncertainty for property owners in Venezuela, who have faced issues with property invasions and a lack of legal recourse to reclaim their homes. The government, led by interim President Delcy Rodríguez, pushed for the law, stating it directly responds to the need for "thousands of homes that were left under the rubble" and families left without "decent housing."

Parliamentary chief Jorge Rodríguez emphasized that the law provides legal security for both landlords and tenants, aiming to alleviate fears that have prevented many from renting out their properties. He noted that an estimated 200,000 homes are currently unoccupied because owners are hesitant to rent them under previous restrictive regulations. The recent earthquakes, which collapsed 190 buildings and damaged 856 more, have exacerbated the housing crisis, particularly in the coastal state of La Guaira.

While the law is a significant step, the immediate challenge remains housing the over 23,800 displaced individuals living in camps in Caracas and La Guaira. President Rodríguez has pledged to deliver 4,000 new homes by December and over 10,000 next year, partly by integrating properties into the secondary market. This effort is being undertaken under pressure from Washington following the capture of President Nicolás Maduro.