Penang Regional Development Authority offers Rent-To-Own housing programme to help those with no fixed income

Penang Regional Development Authority offers Rent-To-Own housing programme to help those with no fixed income

TASEK GELUGOR, May 30 — The Penang Regional Development Authority (Perda) will offer a rent-to-own housing programme to enable islanders who do not have regular income to own homes.

Perda chairman Datuk Shabudin Yahaya said the programme would also help applicants who faced problems getting housing loans from banks, especially the younger generation.

“This programme is to help those (whose applications were) rejected by banks, sometimes because they have no fixed income or have a bad track record. This is only for low-cost housing priced at RM60,000 and below.

“Tenants who are eligible for the programme should pay the rent directly to Perda, between RM200 to RM300 per month, for up to 15 to 20 years after which the house will be theirs,” he said.

Shabudin was speaking to reporters after handing over equipment aid under the ‘Bantuan Ekonomi Kecil’ programme here today.

Shabudin, who is also Tasek Gelugor member of parliament, said initially Perda would offer 100 low-cost houses in Ara Kuda which had been completed.

Perda also has seven more projects which have low-cost housing, including in Teluk Kumbar and Sungai Pinang in Balik Pulau, and in Seberang Perai Utara district awaiting plan approval.

Meanwhile, Shabudin said a house rented to parents could be inherited by the children if the parents died, but payment must be made consistently.

In another development, he said Perda had allocated RM251,890 for distribution to 71 participants of the ‘Bantuan Ekonomi Kecil’ programme throughout the year to increase their income.

— BERNAMA

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