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MHC adjusts upwards rentals by 10%

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The Malawi Housing Corporation-MHC has adjusted upwards rentals for its tenants by 10% effective May 2022.

Ernestina Lunguzi, who is the MHC spokesperson, confirmed the development, attributing it to the current high cost of living.

She, however, described the 10% increment as justifiable because it is in tandem with the current inflation rate currently hovering at around 13 percent.

Economic expert Milward Tobias has since advised MHC to consider selling some of the houses to its tenants.

He has singled out those tenants who signed a long tenancy agreement with the parastatal.

Lately, the Malawi Housing Corporation was embroiled in financial challenges, a development that forced workers to stage sit-ins due to delayed salary payments.

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