RENT AND RATES
67. Rents for all estates built by the Authority are calculated on a similar basis. They are fixed by first calculating the direct annual expenditure and charges on each estate, and then assessing a standard rental, which gives a basic rent per flat, adjusted in detail according to relative quality, position, and size.
68.
Rents are collected monthly from door-to-door by Housing Assistants, who at the same time also deal with other aspects of housing management. For the year ending 31st March, 1962, gross rental income from the North Point, Sai Wan, So Uk Estates (the first eight blocks only), the Ma Tau Wai Estate (the first two blocks only for a short period) totalled approximately $8,525,000. It is very encouraging to note that of this sum only $4,758.11 had to be written off as irrecoverable.
69. Rates are paid by the Authority on all its properties and the annual rateable value is assessed by the Commissioner of Rating and Valuation. These rates ($1,477,697 during this year) are included in the monthly rental of flats charged to tenants and usually amount to an addition of about 25% on the nett rent as calculated. A list of the inclusive rents in force on the Authority's property is given in Appendix VI.
70. These rents are generally regarded as being less than half what a tenant would have to pay a private landlord for similar accom- modation.
INSURANCE
71. All the estates built by the Authority are insured against public liability, cash-in-transit and fidelity guarantee risks, and the North Point, Sai Wan and So Uk Estates are additionally covered against fire risks at 50% of average. Typhoon risk for all estates and the remaining 50% of fire risk for the North Point, Sai Wan and So Uk Estates are covered by self-insurance.
72. The fire risk at the Choi Hung Estate will be covered by com- mercial insurance but the Authority has decided to carry its own fire risk for the Ma Tau Wai and Wo Lok Estates as well as the typhoon risks.
PUBLICITY
73. A good relationship with the local press has been maintained throughout the year. This is largely due to the aid and full co-operation received from the Director of Information Services and his staff, who
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