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.
The Malta Developers Association publicly expresses the solidarity of its President and council members, as well as of all its members, with the Hon. Beppe Fenech Adami, Deputy Leader of the Nationalist Party, in the difficult time he is going through.
While it wishes him a speedy recovery from his health problems, the MDA also expresses its solidarity with his relatives.
Witness to the value of unconditional love
The activity organised by the Malta Developers Association bears further witness to a people who knows how to show the value of unconditional love.
The President of Malta, Marie-Louise Coleiro Preca, said this during a dinner organised at the Montekristo Estate, in aid of the Malta Community Chest Fund on Thursday, 24 July, 2014.
President Coleiro Preca thanked the MDA for organising the activity which raised €36,500. She maintained that the time has come that together we rise above the level of pity for those who resort to assistance and we give them dignity through solidarity.