A new bill was signed by President Gloria Macapagal Arroyo yesterday. The Republic Act No. 9653 or the Rent Control Act of 2009. Under this bill, there is a one-year moratorium on rent increases for covered residential units in Metro Manila and other highly urbanized cities, that would be effective until December 31, 2013. It covers all residential units where monthly rents do not exceed P10,000. The cut-off is P5,000 for residential units in other areas. The new bill prohibits lessors, or owners of residential units, to impose not more than one month advance rent and not more than two months deposit. And for those who will violate the said law, will be paying a fine of 25,000 up to 50,000.