The Minister for Industry, Trade and Tourism, Faiyaz Koya today announced an extension of the freeze on residential properties and ground rents for one year.
Koya says freeze on residential properties and ground rents will now the expire on 31 December 2017.
This extension is based on the assessment undertaken by the Fiji Commerce Commission.
The Minister also announced that effective from 1 January 2017, it is mandatory for the landlords to provide letting agreements and receipts.
The rent freeze order has been amended to make it mandatory for the landlords to issue proper agreements and accurate receipts to tenants.
He says failure to issue agreements and receipts is an offence under the Commerce Commission Act 2010 and appropriate actions will be taken for breaches.
Fiji Commerce Commission Chair, Joann Young says the rent freeze has been in place since 2 March 2007 therefore, the rent restriction does not allow for increase on any residential tenancy and ground rent to which the Commerce Commission Act 2010 applies.
She says the rent that was applicable on a property as at 2 March 2007 becomes the maximum rent and should be charged until the end of the year 2017.
She says any increase in rent from the period 2 March 2007 and 31 December 2017 will be deemed illegal and penalties including on‑spot fines up to $2000.00 can be imposed by the Commission under the Commerce Commission Act 2010.
