How to rent
A GUIDE TO RENTING PROPERTY IN MALTA
Searching for the right location
This is probably the first most important step in your property search. Oyster Real Estate can help you gain a great insight into the types of properties available and the various villages and cities in Malta to help you choose the area that would most suit your requirements.
A selection of properties that are available would be carefully-chosen and hand-picked for you. You would hope to find that most, if not all, of your boxes would be ticked when it comes to location, budget and specifications. A viewing schedule will be drawn up for you to visit and inspect properties that are particularly of interest you.
Making the offer
Putting in an offer for a property that might be top of your list is the next step. At this stage, the duration of lease and rental fee is negotiated and agreed upon. A long-term lease would generally be from 6 months onwards. You can expect to pay a security deposit (equivalent to one month’s rent) to secure the property once a verbal agreement is reached.
A contractual agreement between the Lessor (owner) and the Lessee (tenant) is signed in triplicate and copies of identification provided. The standard lease terms relate to period of occupancy, settlement of rent and utilities (often monthly), issues of termination, sub-letting, general care of the property and rules and regulations particularly if the property is part of a condominium.
Time to move in
The move in process begins on day one of the lease term. At this point, if this hasn’t already been done, one month’s rent plus any energy payment agreed upon will be paid in advance. An inventory of contents should be provided so that you can inspect and agree on the items and condition thereof.
Keys will be handed over and you resume responsibility of the property and at this stage you can begin to enjoy your new home.
TIPS FOR TENANTS
As the occupant of your new home you are responsible for maintaining the property in the condition it was found by you. It is very important to report any maintenance issues or water leaks immediately to avoid damages. Revert to your lease agreement to abide by your responsibilities. Generally tenants will be expected to pay for small maintenance issues and owners will be expected to take care of the larger issues of drains, large appliances etc.
Read your meters when you first move in and sign off the property contents against the inventory – do take the time to check the property carefully with the owner and make clear any items for attention or wear and tear so that any expense do not fall on you at a later date.
Agree with how you will meet your rent and utility payment responsibilities and do take care to meet these responsibilities. As your lease term comes to its end, if you wish to extend you will usually be given the first refusal.