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The i-Taukei Land Trust Board (TLTB) has announced that it has successfully raised more than $1.4 million in the past three weeks after launching a massive arrears settlement exercise.
In a statement, TLTB CEO Solomoni Nata expressed concern about the growing rent arrears, which total approximately $20.1 million as of May 2024.
Nata said: “In January, the initial arrears balance was $27 million with 26,991 tenants owing money. By May 31, 2024, we saw a 25% reduction in arrears balances, equivalent to $6.8 million, with the current balance down to $20.1 million from 18,803 tenants owing money.
This year, TLTB aims to reduce arrears by 60% to $16.2 million by the end of December 2024.
Despite only being measured over the past three weeks, TLTB remains optimistic about further reductions in arrears.
Furthermore, Natta attributes the success to the implementation of key legal strategies and improved rent collection methods, including hiring bailiffs, door-to-door visits and raising public awareness through the media.
“We urge tenants who are in arrears to visit any of our TLTB offices to make arrangements and pay their rental arrears. This is essential to avoid any future hardship,” Mr Natta said.
For convenient payment, tenants can also pay at any ANZ Bank, BSP and Westpac branches, any post office and MaxVal-U outlets within Fiji.
Recent improvements in rent collection facilities include the establishment of electronic payment facilities through our website and online bank transfers.
TLTB remains committed to ensuring that rent is collected efficiently for the benefit of landowners and looks forward to further reducing arrears in the coming months.
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