CARACAS, Venezuela (AP) - Venezuelan lawmakers have approved measures that expand rent controls and require landlords to offer to sell properties to any renters who have been living in a home for more than 20 years.
Business groups are condemning the revised law and say they plan to appeal it in court.
The law passed Thursday night by allies of President Hugo Chavez in the National Assembly requires landlords to register their homes and allows for fines of up to $7,000.
Chavez says the law will benefit many Venezuelans.
Venezuela's real estate chamber of commerce, however, warns that the measures will lead many property owners to stop renting out homes.
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