Malta Housing Authority seeks property for rent, to sublet at subsidised rates

The Housing Authority has launched a new rental scheme through which property owners can rent their premises to the authority that will then sublease it to tenants at subsidised rates.
Property owners will benefit from a reduced tax rate of five percent on their guaranteed rental income and will enter a contract with the authority for a minimum of 10 years, said Housing Authority Chairman Charles Borg.

The property must be finished, have all necessary planning permits and be up to standard.
An independent board will evaluate property to ensure it matches standards and to determine how much the authority will pay, in commercial rates, depending on the location and size of the property.

The authority will then sublease the property at a subsidised rate, Mr Borg said. He added that the authority will take the responsibility of the property once leased. The authority would be strict when it came to regulating tenants as it did not want to discourage property owners from entering the scheme, he stressed.

Read the full article on The Times of Malta, here.

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