The General Director of the “State Apartment Corporation” (SAC), A.Gantulga, has announced that an “Apartment Rental” program will take effect from 1st March 2016.
The Ministry of Building and Urban Construction is working on the rules and regulations of the program, following which, the SAC will approve their internal rules for the program; this should happen before the end of February. The SAC, therefore, is planning that the program will take effect from March 2016. Under the program, 579 apartments will be available for rent nationwide of which 350 will be in UB.
People who rent the apartments will not be able to obtain mortgages, and must belong to living standard categories 3-10. The apartment rent rates will be MNT 200,000-280,000 in UB and MNT 140,000-230,000 in other parts of the country. The renter can live in the apartments for a maximum period of 5 years.