On the 8th, Shen Jie, head of the marketing department of the Beijing Municipal Construction Commission, revealed at the Spring Forum of the Institute of Real Estate Law of Peking University that the city will launch a revised version of the model contract for house leasing contracts on June 1.
There are three versions of the model text of the upcoming house leasing contract. They are for self-closing transactions, broker-assisted contracting, and agency collection and payment.
Shen Jie revealed that Beijing will also issue special regulations to establish thresholds for brokers engaged in house leasing. They must deposit 600,000 yuan in risk reserves in banks and set up bank accounts to collect and pay rents. The government will make accounts available to the public in order to collect and pay for customers' funds.
Media reports houses
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