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2018-11-19 09:00
Guaranteed rent and property management program has benefitted 1,908 households – Ministry of the Interior (MOI) will continue to promote the program to alleviate the public’s burden
In order to expedite the implementation of the social housing policy, the government has pro-actively promoted the guaranteed rent and property management program. Since a trial run of the program was implemented across 6 special municipalities in January this year (2018), a total of 1,908 households have benefitted from it as of October 23, equivalent to 5 communities, and the number continues to grow, providing families that cannot afford houses with more housing alternatives. In addition, after the “Rental Housing Market Development and Regulation Act” (hereinafter referred to as the Rental Act) was promulgated on June 27 this year, there are currently 462 authorized rental housing agents; and associations have been established in various municipalities to remedy rental housing problems through professional services. This is expected to significantly boost the momentum of the guaranteed rent and property management program.

Guaranteed rent and property management program offers numerous concessions to lower the public’s housing rental burden

According to the MOI, in order to resolve the problem of rental housing for middle to low-income households, as well as to effectively utilize private housing resources and implement the social housing policy, besides the government’s direct involvement, the guaranteed rent and property management program is also pro-actively promoted. When the Housing Act was amended on January 13, 2017, the guaranteed rent and property management approach was augmented to promote social housing, where landlords are encouraged to make vacant houses available and convert them into social housing. The houses are rented to people below a certain income threshold and with housing needs; furthermore, underprivileged and economically disadvantaged families are offered rental subsidies to alleviate their burden of housing expenses considerably.

MOI points out that the guaranteed rent and property management program has assisted many underprivileged families to find a steady residence, thereby realizing the goal of housing justice. For landlords participating in the program, the government has provided them with tax incentives for income tax, house tax and land value tax, as well as NT$10,000 renovation subsidy every year and home insurance subsidy (max NT$3,500 annually). The diverse array of concessions aims to encourage proactive participation from the landlords while benefitting people with rental housing needs.

Integration of rental relations –Rental Act ushers in a new era of innovating housing

According to MOI, the market is still adapting to the social housing guaranteed rent and property management mechanism, the reason being that a professional rental housing service system and concept have never been established before, and it is different to the conventional approach people of Taiwan are familiar with—entrusting management to a specialist. After the Rental Act was implemented, there is an official frame of reference for professional rental housing service, and as a result, the industry is growing rapidly.

MOI suggests, as the end of 24th this month, 462 rental housing agents have applied for a permit, of which 8 have completed registration. Meanwhile, rental housing service associations have been established in Kaohsiung City, Taoyuan City, and Tainan City, and associations in Taipei City, New Taipei City, Taichung City, Hsinchu City, and Keelung City are under preparation. With active participation from the industry, as well as the protection offered by the Rental Act for the landlords and tenants, the momentum of guaranteed rent and property management program is expected to be bolstered.

Lastly, MOI stresses that landlords are welcome to make vacant houses available and join the guaranteed rent and property management program, because by allowing agents entrusted by the government to rent and manage their properties, they can enjoy guaranteed rental income, management by specialist, tax incentives, renovation subsidies as well as other concessions that will guarantee the rights of the landlords and tenants. Landlords willing to join the program and people with rental housing needs are welcome to browse the social housing section on MOI’s property information platform (https://goo.gl/s9rpBE) or call 1999 to contact the special municipal government for more information.

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Ministry of the Interior. Republic of China(Taiwan)
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