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 Lm100 (€232.94)
monthly, you will need Lm100 (€232.94) deposit, Lm105 (€244.58)
Rent in advance and Lm59 (€137.43) 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).