Abstract
In this paper, we prove the equilibrium quantitics of remtal house mafket are reduced by the tenant protection low if there exists asymmetric information about tenure's recontract probability. The tenant protection low causes the upward shift of demand function depending on the recontract probability of marginal tenant bua neighborhood of the equilibrium quantities. The upward shift of the supply function by the low, in contrast, depends on the mean recontract probability of tenants who are willing to borrow the house under the first period market rent. As a result of the asymmetric shift of the demand and supply function, the equilibrium quantifies is reduced.
