The basic rental rate in Belarus will be Br54 thousand from April 1.

March 29, Minsk /BELTA/. The basic rental rate in Belarus will be Br54,000 from April 1. Belarusian President Alexander Lukashenko signed Decree No. 150 "On Certain Issues of Property Lease and Gratuitous Use" on March 29, the presidential press service informed BELTA. The document improves the procedure for determining the rental rate for real estate, which will be determined taking into account the basic rental rate. In the future, the basic rental rate will be set annually by the Council of Ministers, taking into account the annual inflation rate (consumer price index for the previous year relative to the preceding one) and will be applied from April 1 of the current year. Thus, a clear and predictable mechanism for changing rental rates for leased real estate is being created, the press service explained. The consumer price index for 2011 compared to 2010 was 153.2%. In this regard, the basic rental rate is calculated as the product of the basic rate in effect in 2011 and the consumer price index (35,000 x 153.2% = 53,620 (≈ 54,000). The decree also abolishes state regulation of rental rates for trading places in markets and shopping centers that are privately owned. The formation of rental rates for such trading places will be carried out in accordance with the norms of the Civil Code by agreement of the parties. The document stipulates that the tenant's making of inseparable improvements to the leased real estate will not be grounds for increasing the rental rate. This will ensure the protection of tenants from rent increases due to improvements made by them to the property. Taking into account the practice of applying Decree No. 518 of October 23, 2009 "On Certain Issues of Property Lease and Gratuitous Use," the organizations that transfer funds received from leasing to the republican budget, as well as the amount of such transfers, are specified. In addition, the decree specifies the legal entities to whom property is provided for gratuitous use. -0-