iTLTB collects more than $1.4M in rent arrears in 3 weeks

The iTaukei Land Trust Board has successfully collected more than $1.4 million over the last three weeks following the launch of a major arrears exercise.

iTLTB CEO Solomoni Nata expressed concern regarding the escalating rent arrears, which amounted to approximately $20.1 million as of May this year.

He says in January, the initial arrears balance was $27 million, with 26,991 tenants in arrears.

Nata says by May 31st, they saw a 25 percent decrease, equivalent to $6.8 million, bringing the current balance down to $20.1 million from 18,803 tenants in arrears.

He further says for this year, iTLTB aims to achieve a 60 percent reduction in arrears, translating to $16.2 million by the end of December.

Despite only being measured over the last three weeks, Nata remains optimistic about further reducing the arrears.

He attributed this success to the implementation of key legal strategies and improved rent collection methods, including the engagement of bailiffs, house-to-house visits, and increased public awareness through the media.

Nata is urging tenants who owe money to visit any of their iTLTB offices to make arrangements and pay their rent arrears, which is essential to avoid any future hardships.

The CEO says to facilitate payments, tenants can also make their payments at any branches of ANZ Bank, BSP and Westpac, any Post Offices, and MaxVal-U outlets Fiji-wide.

He says the recent improvements in rent collection facilities, include the creation of e-payment facilities through their website and Internet banking transfers.

Nata says iTLTB remains committed to ensuring efficient rent collection for the benefit of the landowners and looks forward to further reducing arrears in the coming months.