The Housing Authority has set up a specific section which will be responsible to implement various aspects of the new legislation on residential rents. Among others, the section will take rents registration and the task that small disputes between owners and tenants are solved without the need that both sides end up in Court.
In order to assume its role as a regulator in the sector, the Authority established the Private Residential Leases Unit, which will have various functions, including the registration of rents and to find solutions in issues between owners and tenants.
Romina Fenech is responsible for this new section.
“Another section is linked with monitoring and enforcement ensuring conformity with the law; we educate and assist them to be compliant with the legislation. In case a person does not conform himself there is an enforcement system with which one may be fined €10,000. Another function is the adjudicating panel on disputes on registered contracts up to a maximum of €5,000, they may apply online or present their complaints”.
Parliamentary Secretary Roderick Galdes said that one-year rent registration has to be done by owners. He stated that there is certainty with the new law that tenants live in good conditions, while the owner has the necessary protection on his rights.
Mr Galdes added that the new law will regulate the market in a balanced way and provides rest of mind and stability to tenants and owners. The law enters into force next January and by January 2021, all residential rents have to be registered.