The government has said that rent reforms will come into effect from next January.
During the press event this morning, the Prime Minister Joseph Muscat said that this reform introduces a minimum period for the lease of at least a year. If the owner wants to change the terms after one year, they must give prior notice. Similarly, the tenant will also have a minimum period to notify the owner if they wish to leave or renew the lease.
On the type of regulation, the Prime Minister stressed that the Government wanted to encourage owners not penalize them. Those looking to rent out their apartment for more than two or three years, they will get incentives so that they will be able to rent their apartments long term.
It was also indicated that while 80% of Maltese are homeowners and a further amount of people are considered to be living under regulated tenancies, there are still 8% who are still in a unprotected situation. The government said that this small sector of the property market is disproportionately impacting the rest of society.
Adding to the press conference, Minister for Justice, Culture and Local Government Owen Bonnici, said that the reform of the rent laws are a further bolstering of reforms in the area of justice. These new provisions would speed up the court proceedings in cases of evictions while introducing new rights as both owners and tenants.