Renting a property in Malta is very simple. Any foreigner wishing to stay in this state for work, to take up residency or use it as a retirement destination can lease a property without facing any difficulties. The state is always developing the rental and lease market to provide accommodation for everyone regardless of their budget. If you are looking to lease in this country, first get to know the different towns and the prices to make an informed decision.
Rent Prices
The prices for Malta property rent tend to be reasonable although there are some factors that can make it vary, such as location, your duration of the tenancy, property type and the furnishing standards. Often, properties are supposed to be furnished before being rented out, and this includes fittings and appliances. However, you can also get properties that are not furnished.
If you are looking for a long-term rental place (exceeding four months), you will find that electricity, TV, internet and water rates are usually not included in the package. You will have to pay the expenses as per your consumption.
You will get a wide variety of homes to choose from within the islands to fit any budget, lifestyle and taste needs. If you are looking to work in this country, the Inner Harbour area like St Julians, Msida and Sliema are the ideal places to go for. For those looking to steer clear of the noisy cities, the inland, southern and western areas are the places to go when looking for houses. Here, you will find a relaxing environment where you can explore the island.
The rental prices have escalated in the recent past as more people are attracted by what the island has to offer. The number of tourists and expats has gone up, making the housing prices to rise too. Some places are actually charging three times what they did two years ago. When going through real estate websites, be very keen as some of the prices listed are not up-to-date.
Amenities and Social Life
Every town in this state is full of all the necessary amenities to help you with your day-to-day activities. You will find a big selection of shopping malls, health centres, entertainment spots and department stores. Their exciting nightlife and beautiful beaches complete the package.
Maltese Accommodation Types and Fees
The properties range from standard apartments to townhouses to seafront properties to villas and bungalows that come with big pools and gardens. You will not incur any expenses related to letting the property apart from the estate agent’s fee, which is usually half of what you have to pay for letting the house for one month plus VAT. You will also be required to pay an equivalent of one month’s payment as a deposit to cover any breakages and outstanding bills to the one leasing the house out to you. Once you terminate your lease, the lessee is supposed to refund the deposit or use it to foot any outstanding bills or damages as per your agreement. These deposits are kept in full, and so, you should put down a deposit that you are willing to forgo entirely. Keep in mind that you can always negotiate the rental prices. For example, you can suggest paying several months in advance at a cheaper rate.
If you got your rental house through the help of a real estate agent, you are entitled to paying their fee. The landlord is also supposed to pay half a month’s payment to the agent as their fee. If your lease is going to last for less than six months, it is considered a short-term lease while one that exceeds this period is a long-term lease. You can negotiate the end of your lease with the landlord or even renew it.
Lease Agreements
You are always advised to sign a lease contract that states the both parties’ obligations and rights. The contract should also cover your payment term, duration of the lease, utility bills and services, any additional services the lessee offers and rules of how to use the common spaces, among others.
Before agreeing to a lease, confirm the landlord has been authorised to let out the house and that they have a housing insurance that covers you in case you encounter any calamities likes floods, theft and involuntary damages.
