Reform seeks to cap rise in property rents

Rent increases capped to a maximum of five per cent year on year


• One-year minimum contracts for home rentals
• Multi-year rental contracts to have increases capped at 5%
• Tax credits for landlords who enter long-term contracts
• All rental contracts to be registered online
• Housing Authority to police the rental market

Minimum one-year rental periods, caps on price hikes and tax incentives to encourage longer-term contracts, are among the main reforms to the rental market announced on Wednesday. The reform was announced by Prime Minister Joseph Muscat at a press conference and does not include pre-1995 rents. Giving a presentation of the reform, lawyer Kurt Xerri said the new law, entitled the Private Residential Leases Act, aimed to ensure stability by introducing a one-year minimum duration on all residential contracts. Dr Xerri helped draft the legislation......

Read the full article here.

Source: Time of Malta online June 26, 2019
 

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