New Regulation Enhances Feasibility of Resort Villa Rentals

The new legislation that the Tourism Ministry has introduced permits the long-term rental of specific resort accommodations. The Tourism Ministry's new regulations allow resorts and integrated resort complexes to strategize the leasing of numerous villas.

Dr. Abdulla Mausoom, the tourism minister, highlighted that the goal of the establishment of these regulations was to make operations simpler for owners of medium-sized resorts. To accommodate the developing idea of residential tourism, every villa within a resort is made accessible for long-term rental under this framework. According to Dr. Mausoom, "This initiative opens up opportunities for both foreigners and locals to book resort rooms for extended stays."

The rules state that before being made available to visitors, villas or rooms offered for long-term strata rentals must be properly registered with the Ministry of Tourism. A registration cost of MVR 5,000 and an extra MVR 10,000 payment to MIRA are needed in order to receive a long-term leasing license.

Residents of these villas will appreciate having the freedom to come and go from the resort as they want. It's crucial to remember that subleasing the property is not allowed.

The Ministry has also specified severe consequences for breaking these laws. A MVR 25,000 fine will be imposed for the first infraction, and an MVR 50,000 fine will be imposed for any additional offenses. According to the ministry's clarification, tenants who repeatedly violate the rules may be subject to a sizable fine of MVR 100,000. This enforcement strives to keep the new long-term rental system's integrity while giving resort owners and tenants a hassle-free experience.