Minister of Housing and Urban Development Aminath Athifa reveals the National Tenancy Act will not be formulated to control the rent rates. She made the comment following an announcement by Ministry of Housing and Urban Development to find interested parties to formulate a tenancy act.
Speaking at a press conference, Housing Minister Athifa said the new act will not have a component to control rent rates in Maldives but rather will focus on the protecting the rights of the landlords and the tenants.
Moreover, Minister Athifa revealed the act will outline the renting procedure, the situation of the rental places, advance transactions and the agreement period. She added the advice and recommendations from multiple parties will be considered before drafting the act.