The Association of Real Estate Companies (AEI) is urging a crusade to motivate Congress to move on the real estate bills. In an interview with Hoy newspaper, realtors Melito Marte and Luis Pantaleon said the present real estate law is an obstacle to their sector. The law makes it very difficult and costly to evict tenants for lack of payment or lack of care to the dwelling. The realtors say if the law were modified thousands of homes that are on the market now would be rented out. He said that given the present state of affairs, thousands of overseas owners prefer to keep their dwellings vacant rather than take the risk of renting them out. The law also makes it difficult for property owners to adjust the rent. The realtors suggested zoning to distinguish between areas where price control measures could be applied and those where market conditions could prevail. They also urged that Congress act on the inheritance bill, the bill for the transfer of property and the tax bill on real estate operations.
