First meeting of Property Malta Foundation
Thursday, April 13th, 2017
The Malta Developers Association has joined the Government in the setting up of the Property Malta Foundation, as set out in the 2017 Budget. The deed of the foundation, which is made up of four trustees nominated by the MDA and four trustees nominated by the Government, was signed on 21 March, 2017.
The trustees are MDA President Sandro Chetcuti, Hon. Secretary Michael Stivala and Council Members Alfred Camilleri and Michael Bonello; those nominated by the Government are Vincent Bone, Peter Caruana, Mario Falzon and Antoine Mallia.
MDA calls for action against rogue contractors
Sunday, April 9th, 2017
The Malta Developers Association refers to a report and video in a news blog concerning the demolition of a building in Siggiewi.
From the video, it is obvious that the demolition contractor is not following an approved construction method statement that binds the owner of any such works on the methods he is permitted to use to demolish an existing structure. Moreover, it is also obvious that no safety precautions were taken in order to protect pedestrians, passing traffic and the workmen on site.
MDA ON NEW HOUSING AUTHORITY RENTAL SCHEME
The Malta Developers Association (MDA) refers to the new rental scheme launched by the Housing Authority through which property owners can rent their premises to the authority, which will then sublease it to tenants at subsidised rates.
The idea of using existing vacant building stock for rents to persons who qualify for social assistance in housing originated from one of the many suggestions made to Government before the Budget by the MDA, which had also suggested that a fixed rent for a predetermined period could be incentivised by a reduction in income tax from rents, as actually indicated in the announced scheme.
However, instead of allowing for a free rental market with tenants dealing directly with owners and then registering the lease when applying for subsidy, the scheme has become one where owners lease to the Housing Authority, which in turn sub-leases to the tenants.
This is in fact a major obstacle for the success of the scheme. Owners would normally seek to know who the prospective tenants are before they enter into a rental agreement and should not be obliged to accept anyone who obtains a sub-lease from the Housing Authority.
This would have avoided a lot of expensive bureaucracy and expenses on the part of the Authority, which will now be responsible for potential damages made to properties by its sub-lease holders.
With the announced scheme the property owners concerned will lose all control of their property and what happens to it, much as what used to happen in the past in the case of requisition orders.
It is a pity that such a good initiative has been smothered at its inception in this way rather than being allowed to flourish, something that would not have happened had the Housing Authority consulted interested stakeholders before finalising the scheme.