The Renting Process
Our ‘5 Step Guide to the Renting Process in Malta’
If you have never leased a property before, the procedure may seem a little confusing at the beginning. Throughout the entire process, you may be left wondering what happens next? Our dedicated and friendly letting team is best positioned to guide you through every step of the decision making process. At Perry Estate Agents we continually strive to deliver exceptional personal service which surpasses our client’s expectations whilst using all of our extensive experience and market knowledge to reduce your stress levels to the point of non-existence! To help you, we have compiled a simple guide of what to expect during the leasing process when renting a property in Malta.
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Shortlist Suitable Property
Our title refers to the initial search for suitable and available options. There is no better place to start than by getting onto our website and scanning through our listings in the area of your choice, or if you are new to Malta then send us an email (or contact us by phone), so that we will be able to have a friendly chat and guide you on what property types and areas we think would be most suitable based on your particular circumstances and criteria. This will then allow us to email you some suitable property options, based on your feedback.
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The Personal Visits
After deciding on a few possible options, one of our highly trained letting specialists will schedule an interesting program of viewings for you. Our appointed team member will collect you from your hotel or wherever would be most convenient and proceed to a personal tour of the best quality properties matching your criteria, whilst also showing you the amenities and sought after localities. This will then allow you to make a sound decision on where you really want to live. While touring the various properties and communities take notes, and compare. Taking photos or better still video clips is also a great way to remember which of the properties had the most appeal to you or which locality has the most suitable amenities for your lifestyle.
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The Offer
After comparing notes and considering all the property options available to you, the next step in the leasing process is making an offer on your top choice. At this stage, it is best to liaise with your letting consultant who will be able to submit the offer on your behalf and who will be able to guide you on how negotiable the landlord may be on the price. Certain things like the duration of the lease and rental payments in advance, for example, can bring down the asking price. Once we submit the offer all you can do now is wait until the landlord responds which in most cases would only be a matter of minutes or hours. Once agreed, you can sometimes even move into the property that same day, however, it is usually the next day. It’s time to move on to step 4!
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The Lease Signing
At this stage, our letting specialist will give you specific directions in filling out our standard lease agreement and you would usually stop by our office to meet the landlord in person and fill out the lease document. The lease itself is very straightforward and consists of about four pages, with each page requiring your initials or signature to prove that you have been made aware of everything in the agreement. Bear in mind that the lease is a binding contract so it is crucial that you pay attention as our letting consultant goes over it with you. It is perfectly normal to let our agent know of any queries or concerns you may have or any article which you find to be unclear. That is your right. You will be given a full explanation and guided accordingly. You will also be given an original copy of the lease and inventory to take with you and keep for your records. At this stage you are required to pay the refundable deposit, usually equivalent to one month rent, plus a deposit for utility expenses namely water and electricity consumption, as well as the first rental payment and our Real Estate fees which in Malta are equivalent to a months’ rental plus 18% VAT – split equally between the landlord and tenant. Once the deposit, rental and Real Estate fees are paid it is time to move in!
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The ‘Move-In’
On the agreed move-in date, after the lease has been signed and payments have been made, you should be given two sets of keys and a remote to the garage (if the property includes one) and more than likely an inventory, listing all the items included in the property. Here you will want to do an initial walk-through of your property, looking for any damage to walls, cracked windows or other irregularities that may have been caused by a previous tenant and went unnoticed. Also, bring it to your landlords’ attention so that you will not be held responsible at the termination of the agreement. Our team of professionals is also very well connected to help you move with ease by advising you on any other matters like setting up of internet, TV and telephony connections and any other additional services you may require. It is finally time to enjoy your new home!
Useful Links:
Download our definitive Guide to Renting in Malta >> Rental Brochure