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If you are renting a property here in Malta for
the first time you will find this article necessary reading. I
will try to describe the whole process from the moment you make
contact with our company, to the very last minute of your stay
when you hand over the keys to the rented property back to the
owner.
Since you are already reading this article, you have already taken
the first important step in the right direction. You are browsing
through the website of a reputable Estate Agent with over eleven
years experience to draw on.
In letting real estate, experience is very important
as the owner of the property will play a very important role during
your stay. Over the years we have grown to know most property
owners on a personal basis, which helps us pair owner and lessee
as well as possible. There is nothing worse then renting a property
from someone who is not totally convinced of you as a lessee,
and is just entering the deal for financial reasons. We know which
owners prefer older tenants instead of students, which properties
are ideal for tenants who want greater privacy, or which owners
will accept certain specific conditions in the contract, perhaps
a clause allowing pets within the premises.
If you browse quickly through
www.62582.com menu, you will realize that the properties are
organized by property type and also by area. As you reach the
bottom of each page, do not forget to flip the page over by clicking
the arrow at the bottom of the page ! This will take you to more
property pages of the same type or within the same area.
Although
the web site is updated daily and was designed to be as user friendly
as possible, we strongly recommend you contact us at an early
stage as we can help you understand better what your requirements
might translate into in Maltese real estate terms.
Your visit to Malta, if job specific could also
need a more property selective approach. A diver, for example
will nearly certainly require a ground floor maisonette (term
for apartment with a private entrance) with a backyard to enable
him/her to dry his/her gear and store his/her equipment without
hindering neighbours or risking leaving expensive gear on a common
roof.
A business man might find a bachelor apartment adequate (a bachelor
apartment is one where the bedroom is separated from the living
room). However while a bachelor apartment in town usually also
has a separate kitchen, a modern one in a new area will probably
have a kitchen/living room, which means if one wants to accommodate
guests, the kitchen will have to be kept spic and span at all
times.
So, as soon as you contact us, we will usually
have a quick run through what you have in mind. You will probably
point out a few properties that caught your attention and we can
probably recommend other similar ones too. Most properties have
photos featuring them, though some might not have any due to the
fact that they would have been occupied for a long period since
we had it photographed last, and therefore we feel we cannot vouch
that the property will be in the same state as our previous pictures
would show.
Once you have decided what properties you want
to see, an appointment is arranged and either I or one of my representatives
will meet you and show you around. You might fall in love with
an apartment, or house, first time round, or in some cases decide
to move further out, or further into town for whatever reasons.
In that case another appointment is rescheduled.
To secure a property, it is usual practice to
put down a deposit equal to the first month's rent, either with
us, or with the owner, and to sign a contract and move in within
a week or two. If for any particular reason you are looking to
relocate in later then a month's time, it is very important to
let us know immediately as some owners are not prepared to wait
for longer periods without collecting rent. Others might be more
lenient, however the financial implications usually draw a line
at any period over a month.
The contract itself is usually very straightforward
and the one drafted by our lawyers has been in use for a long
time, protecting both Lessee and Lessor in the fairest and most
practical way. In contract terms, you are the Lessee or Tenant,
and the owner is the Lessor. We will be acting as both your agent
and witness to the agreement.
To sign this agreement you will be asked to provide us with a
copy of your passport together with the original. The copy is
kept for filing while you never part with the original. Financially
you will need the equivalent of one month's rent as deposit, one
month's rent in advance plus 5% VAT, and half a month's rent plus
18% VAT as the normal estate agency commission. Therefore if for
argument's sake, the property is renting at €250 (Lm 107.33)
monthly, you will need €250 (Lm 107.33) deposit, €262.5
(Lm 112.48) Rent in advance and €147.5 (Lm 63.32) as commission.
The deposit is refundable on the very last day of your contract
after the property has been inspected and found to be in the same
condition, except for fair wear and tear, as on the day you moved
in. All utility bills must also be paid to the last day, otherwise
this amount is deducted from the deposit.
We will provide you with an exact copy of the contract before
you actually meet the owner to sign it, so we will be able to
cover any questions you might have well in advance.
During your period of rent, our company still
does it's very best to help you overcome any difficulties you
might encounter during your stay (although technically speaking,
our job, which is to introduce the lessee to the property and
it's lessor, does not call for this). These difficulties usually
turn out to be of a normal nature, to quote a few examples, how
to program a new washing machine, how to install cable TV in the
apartment, or perhaps how to hook up an internet connection. In
such cases we are always happy to put you in contact with the
right service providers. We also strongly recommend that if any
equipment malfunctions, as nothing in life is perfect, you contact
us or the owner immediately rather then try to fix it yourself.
In most cases a service guarantee will be running and the right
people must be contacted to do the job.
A month before the contract is due to expire,
you will be expected to inform us, or the lessor, whether you
intend to renew the agreement for a further period, or intend
to leave the premises on the due date. If you decide to stay on,
a clause is added to the agreement stating that the contract is
to be extended under the same conditions, for a further period
of X months.
If you do not intend to renew the contract, on
the very last day of your stay, one of our representatives, or
the lessor, will visit the apartment or house to see that there
are no breakages or any structural damage. The utility bills are
also checked and any due balances are to be cleared by you. The
Lessor then refunds your deposit and all matters are considered
settled as soon as you return the key.
If you still have any questions please feel free
to contact me on kenneth@62582.com
or call on 99-4-62582 (add +356 to the beginning
of the number if calling from outside Malta and Gozo).
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