Malta is an attractive place to live with a lot of sun and culture. However, when it comes to renting a property, many people are put off by the unflattering stories they hear. Don’t let that scare you though – our comprehensive guide will show you how to rent property in Malta without any problems. We’ll start by explaining the process, then move on to the do’s and don’ts of property rental in Malta. Finally, we’ll break down the best locations for renting property and the average rent prices. For further inquiries, check out our FAQ section or contact a Dhalia consultant directly.
The Process Of Renting A Property In Malta
The process of renting a property in Malta is easy. Once you have found the rental property that meets your taste and budget, your rental consultant will work with you and the landlord to secure the property through a contract. Then, the contract has to be registered with Malta’s Housing Authority according to rent regulations.
Searching For A Property
Before you even think of signing any dotted line, you need to know what type of property you want. Most rentals are apartments, penthouses, and maisonettes, but of course, the rental market also caters to other types of properties. A family might consider a house of character or a townhouse with its own garden. Make sure you know how many bedrooms you require, and any additional details such as laundry room, outdoor space, lift, air-conditioner, etc.
You also need to consider the time you’ll reside at your house of choice. Keep in mind that a lease shorter than 6 months is considered a short let, and some landlords may not be comfortable with this.
And finally, you need to set a budget range for yourself. Once you have all the details of your requirements, you can begin your search. You can search on your own or engage the services of a letting consultant for a smoother process.
Making The Offer
Once you’ve selected a property to rent, you can think about making an offer to the landlord in question. Your rental consultant will help you out through the process of making an offer. Because the rental market in Malta is fast-paced, you should find out if your offer is accepted in a short amount of time. The downside to this is that sometimes a rental property that you are considering could be taken off the market swiftly before you’ve made a decision. However, your consultant will be there to advise you in these cases.
Once your offer is accepted, you will be asked to put down a deposit on the rental property. Usually, this is equivalent to one month’s rent. During this step, you also have to make sure you’re aware of the payment terms, how your rent should be paid, and how often.
Financial Considerations
When it comes to renting in Malta, you need to take into consideration the following expenses:
- Monthly rent
- Deposit (one month’s rent)
- If you are bringing a pet, the landlord may require a larger deposit, and/or pet insurance on your part.
- Consultant’s fee (equivalent to half of one month’s rent, plus VAT)
- Utility fees (power & water): some landlords charge a fixed fee, while others charge according to consumption.
- Additional fees (television, wifi, additional services)
Singing The Contract
The rental contract will set down the terms of your lease. Rent, deposit, charges, terms, and any other conditions will be included. Make sure to get an inventory of all the items and appliances included in the property, and spend some time checking that it is correct. It also helps to take photos of the property when you move in, to have a record of its condition.
Note that subletting in Malta is not common, and some landlords may not be comfortable with it. And as of 1st January 2020, all rental contracts will now be subject to rule of law. All long-term (1 year+) leases will have to be registered, and the terms of the lease have to be disclosed.
The Do’s And Don’ts Of Property Renting In Malta
When it comes to renting a property, specific rules apply. Whether you are Maltese or foreign, there are a handful of things you need to know before renting. Our letting specialists have prepared these suggestions of what to do (and not do!) when searching for your new rental home.
DO – Get The Know The Market
When overwhelmed with choice, many people resort to renting the first property they lay their eyes on. Needless to say, this is the wrong way to approach such an investment. One of the most important things you can do before signing a contract is to educate yourself about the market.
By doing your own research, you’ll be better equipped to find a property that meets your needs and budget. Additionally, it’s important to remember that rental prices can go up over time. So, if you’re thinking about renting a property, it’s best to do it sooner rather than later. By analyzing the wide range of properties available, you’ll be well on ripping the benefits of Malta’s property rental market.
DO – Research The Area
Before you begin your property search, you need to decide which locations work for you. Do you need to be close to your workplace, school, or public transport? Is being close to the sea a priority? Should you be within walking distance of a grocery store?
It can be surprising to learn how different Malta can be. Although the cities are close together, each area is different from the next. Before you move in, try to get to know the surrounding location of choice by walking around and exploring.
DO – Choose A Type Of Property And Check It Out In Person
Moving into a new home is an exciting time, but it can also be a bit overwhelming. One important task that you shouldn’t forget is to thoroughly inspect the property. Visit at different times of day to see how things change. From the shower pressure to the way the oven works, you will need to ask questions about your new home.
Don’t rush through, as you may miss something important! Take your time and make sure that everything is in good working order before you sign the contract. That way, you can be completely comfortable that you made the right choice.
DO – Conduct An Inventory And Get Everything In Writing If Necessary
Upon moving into a new rental property, it is essential that you go through the inventory list provided by your landlord with a fine-toothed comb. Not only will this help you to determine what items are included in the rental price, but it will also give you a chance to check that everything is in good condition and working order.
If there are any discrepancies between the inventory list and what is actually in the property, be sure to point them out to your landlord and get them rectified as soon as possible. Additionally, if there are any items that you were expecting to be included in the rental but are not listed on the inventory, try to get confirmation from your landlord in writing (e.g. via email) to avoid any misunderstandings further down the line.
DO – Try To Build A Relationship With Your Landlord
The landlord-tenant relationship is one that can be fraught with misunderstandings and conflict. However, it is also a relationship that is crucial to the well-being of both parties. A landlord provides a place to live, while a tenant provides the rent that pays for the property. Both need each other in order to maintain their current living situation.
For this reason, it is important for both landlord and tenant to try to build a good relationship with each other. By getting to know one another and communicating openly, they can avoid many potential problems.
DON’T – Skim Through The Contract
The rental agreement is a legally binding document, so it’s important that you understand everything that’s in it. The contract will outline your rights and responsibilities as a tenant, as well as the landlord’s rights and responsibilities. It’s important to know what you’re agreeing to before you sign on the dotted line.
Take some time to read through the rental agreement in detail, and if you have any questions, don’t hesitate to ask a professional!
DON’T – Disrespect The Property
Since you may not be planning on staying in the rental for the long term, the landlord has likely invested a lot of time and money into getting it ready for you. That means that you need to take good care of the property and return it in the same condition it was received if you want to keep your deposit.
This means no big holes in the walls, no stains on the carpets, and no damage to the cabinets or appliances. Of course, normal wear and tear are to be expected, but taking good care of the rental will go a long way toward maintaining a good relationship with your landlord.
DON’T – Be Un-Neighbourly
One of the most important things to do when moving into a new neighborhood is to introduce yourself to your neighbors. Even if you’re not the outgoing type, it’s worth taking the time to get to know the people who live nearby. Not only will they be able to help you with practical matters like garbage day, but neighbours can also be a valuable source of information about the area.
DON’T – Avoid The Help Of Professionals
Many people think that they can save money by not using a real estate agent when renting a property in Malta. However, the reality is that a good agent can actually save you a great deal of money in the long run. First of all, an experienced agent will have a thorough understanding of the Maltese rental market and can help you to find a property that suits your budget and needs.
They can also negotiate on your behalf to get the best possible price for the rental. A good agent will also be able to provide you with valuable advice on how to take care of your rental property and avoid any problems in the future. In conclusion, it is clear that there are many benefits to using a real estate agent when renting a property in Malta.
Favored Locations And Rent Rates
Sliema and St Julian’s are two of the most popular locations in Malta, especially among young people and families. These coastal towns offer a lively environment all year round, but especially during the summer months. They’re also home to most iGaming companies on the island making them a booming social and economic hub.
There are many apartments available to rent in these areas, as well as a variety of shops, restaurants, and bars. The towns are also well-connected by public transport, making it easy to get around.
- Rent Rates: between €1,000 and €2,000 depending on the property type and its size
A quieter option would be on the northern side of the island, where the picturesque and beloved village of Mellieha lies. The surrounding towns of St. Paul’s Bay and Buggiba are also great options for those looking for a taste of local living while enjoying plenty of amenities to cater to all tastes. From modern apartments and traditional townhouses to detached bungalows, there are plenty of rental options available.
- Rent Rates: between €700 and €1,300 per month depending on the size of the property and its characteristics
If you’re looking for a more tranquil locality with traditional Maltese houses, narrow streets, and an altogether more traditional Mediterranean living experience, then look towards the center of the island to places such as San Gwann, Attard, Naxxar, or Birkirkara. Rental rates are typically lower in these areas, but you can still enjoy access to good amenities and various transport links.
- Rent Rates: between €500 and €1,000 per month depending on the property
Renting Property In Malta As A Foreigner
In Malta, there are few restrictions on who can rent a property. As long as you are an EU Citizen or a third-country national with a long-term Visa, you are able to lease a residential property for your own occupancy.
This makes it relatively easy for foreigners to find suitable housing in Malta. There are only restrictions for rental properties that exceed €10,000 monthly. If someone is interested in a property with that high of rent, they will have to go through extra measures, such as providing due diligence to show their source of funds.
Frequently Asked Questions
What is the VAT? Am I required to pay?
VAT or Value Added Tax (VAT) is a broad-based tax that applies to all commercial activity relating to the sale of goods and services. It is levied by the Maltese government as a legal requirement, and businesses are responsible for collecting and remitting VAT on behalf of the government.
Can I rent a property in my company’s name?
Yes, you can rent a property in your company’s name with no changes to the rental price itself.
What happens if I want to terminate my contract earlier than expected?
Depending on at which point in time you decide to leave your rental property, you may lose your deposit or have to pay some month’s rent. Unless you have a special agreement with the landlord himself, terminating a contract earlier can amount to some costs on the renter’s behalf.
Who is responsible for the repairs on the property?
Generally, the owner covers the costs of major repairs on the property. However, this measure applies only if the tenant was not responsible for the damages.
Get Expert Advice On Renting Property In Malta
From Gozo to Valletta, Dhalia consultants are happy to show you around different types of Maltese rental properties and suggest ideal arrangements for you. Whether you’re looking for large or small apartments for rent, luxury homes, townhouses, farmhouses, or chic apartments, we’ve got your back.
Browse through hundreds of listings on our website and choose the right place for you. From oceanfront Malta properties to city-center rentals and everything in between, our website has it all. Depending on the location or your budget, we are 100% sure you’ll find what you’re looking for. Plus, we can also help you with the lease agreement and find solutions if problems should arise.
