Home » Uncategorized » Landlords and tenants should negotiate rent-NFP

Landlords and tenants should negotiate rent-NFP

Landlords and tenants should negotiate rent-NFP

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The National Federation Party believes that all residential landlords and tenants should negotiate their rent, and the Commerce Commission should not have a say in the matter.

NFP leader Dr Biman Prasad is questioning why the Commerce Commission is getting itself involved in determining how the market should work.

Dr Prasad said they are concerned how the commission is going to register the houses and flats, who is going to determine on what basis the landlord should charge rent because this is not the commission’s work.

However Commerce Commission Chairman Dr Mahendra Reddy said there is an imperfect market in the housing sector while responding to the NFP’s statement that the commission’s requirement for landlords to register with them is ill conceived.

Dr Reddy said they want the landlords to register so that they can have a price control order.

The Price control order will give the commission the authority to allow rent increases based on a formula and the formula will take into account the capital improvement done by the landlord, for example fencing the compound or installation of burglar bars which increases the value of the property.

With the price control the landlords can apply for an increase in rent but they will need to have previous and past data on rent level and renovations.

NFP leader Dr Biman Prasad said the market is not imperfect but the tenants are at risk.

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But Dr Mahendra Reddy said the NFP does not understand there is an imperfect market.

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Dr Reddy said people should go through the Self Regulating Guideline for Landlords and Tenants which will come into effect from the 1st of next month.

Story by: Akuila Cama

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34 thoughts on “Landlords and tenants should negotiate rent-NFP

  1. I am with mahen reddy on this one. The market is not perfect. It is not the silver bullet. ‘Professor’ Biman Prasad of all people should know this instead of naively swallowing all liberalist dogma he reads in the text books. So-called ‘free markets’ can give rise to exploitative situations, as the rental market. Does professor Biman Prasad know how to think critically or he believes everything he reads in text books?

  2. Kanua Mahen Reddy fucked up minimum wage. he will fuck up rental also. mahen is incompetent. A dumb professor. Watch him shit all over the rental issue.

  3. In a free market economy supply and demand thus the market forces should always determine pricing
    So commerce commission should stay away from rent determination

  4. nops thats not the way to do it , we should play it fair, and that must be accepted by both sides of the players

  5. Land leases should be done this way as well ie. land owners directly with any tenants ?

    will end up at real market value for land instead of UCV .

    TLTB should wake up on this

  6. Does SODELPA agree with NFP view on above?

    And will NFP agree if SODELPA also wants the same done for land leases?

  7. SODELPA, kai, bai and Mahend KNOW SHIT how a rental market must work in a situation like Fiji. My best advice to take a refresher Economics 101 from Biman.

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