LEASING REFORMS
On August 28, 2024, the decree reforming various provisions of the Civil Code for the Federal District and Housing Law for Mexico City, regarding income, was published in the Official Gazette of Mexico City. .
The main changes derived from the reform consist of the following:
A. CIVIL CODE FOR THE FEDERAL DISTRICT, it is established that:
• The increase in income will never be greater than the inflation reported by the Bank of Mexico in the previous year, with respect to the amount agreed upon as monthly income.
• There will be a digital registry of lease contracts, with immediate authorization, in charge of the Government of Mexico City.
The lessor must register its contracts within a period of no more than 30 days from the conclusion of the contract.
B. HOUSING LAW FOR MEXICO CITY, it is established that:
• It seeks to integrate the Housing Information System of Mexico City.
• The government bodies of Mexico City, in coordination with federal entities, will promote the public production of affordable rental housing for lower-income people by the Government of Mexico City.
The public production of housing will be that carried out by the Government of Mexico City with public resources in order to offer access to rental housing with an affordability criterion for people with lower incomes.
The decree came into force the day after its publication in the Official Gazette of Mexico City, that is, August 29, 2024.
Likewise, it was established that the Government of Mexico City will establish the mechanism for the digital registration of lease contracts, in a
period not exceeding 30 days after the entry into force of the decree.
In relation to the lease contracts that are in progress at the entry into force of the decree, THEY MUST BE REGISTERED BY THE
LESSOR WITHIN A PERIOD OF NO MORE THAN 90 DAYS, once the mechanism for the digital registration of lease contracts has been established.
AS ALWAYS, WE REMAIN AT YOUR ORDERS TO PARTICULARLY ANALYZE THE POSSIBLE IMPLICATIONS THAT THE PROVISIONS OF THIS REFORM WOULD HAVE ON YOU PERSONALLY.
