The idea of standardising the residential letting agreement is on card for the Maldives. It is hoped that this vehicle will diffuse powers held by stakeholders, but will it really work?

Vast majority of the residents in one of the most crowded cities in the world live in rented apartments and with the landlord’s ruling (come on dont settle down with concepts like sellers market cos they simply sound nice). Besides the sky rocketing rents for poorly fitted accommodation which some accept as being best answered by demand vs supply (I never understood this as the case for the Male’), the deposits/advances sought by landlords are another big concern. Landlords whose greed have never been challenged decide the fate of any deposits handed in (I never understood it either that tenants should be reduced to this).

I know there are loads of people who think they know what is best and so there is no point in me sharing what the solution is. I also know that the card for standardising the letting agreement is on the table that will deal with the haunting we live in today.

Standard letting agreements used in the UK tackles many problems faced. I take the privilege of attaching the UK format (see downloads section) for those interested in enhancing and adopting one. The UK has, since of late, adopted a new policy that rental deposits be held by a third party which again is a very good approach.

If such a standard as practiced in the UK is adopted for use in the Maldives, I believe there are benefits for landlords and tenants, of course in return for relinquishing certain powers.