We are including a list of standard rental terms & conditions for you to know prior to committing yourself to a rental agreement. The main terms & conditions consist of payment terms, the deposit and the commission.
Payment Terms
Rent is payable one (1) month in advance when the lease (rental) is for a long let (5 months & over). However the landlords at their own discretion may request rent is payable three (3) months in advance.
All costs for short term and Holiday rentals are payable in full and in advance.
All long and short term related payments are usually payable directly to the landlord. Payments can be made through the agents upon request.
Deposit
A deposit equivalent to one (1) month's rent is payable in advance to secure the property. The deposit may be utilised to cover any short comings from the part of the tenant. The landlord on the expiry of the lease and only after having inspected the property and once all pending bills have been paid and settled in full will the deposit be refunded.
Identification / References
Tenants are to provide a valid passport / or identity card on signing of the lease agreement. The landlord may request a reference from the tenants previous landlord and also from their employer.
Utilities / Cable Tv / Internet
Water & Electricity bills are payable by the tenant and are not included in the monthly rent, unless otherwise agreed with the landlord. The landlord may request a monthly payment on account to cover tenant's monthly consumption.
Cable TV / Internet are payable by the tenant directly to the service provider and are not included in the monthly rent.
Commission - Long Term Rentals
Equivalent to one (1) month's rent payable equally (50 / 50) by the landlord and the tenant.
Commission - Short Term Rentals
Equivalent to 10% of the total rent payable by both the landlord and the tenant.
Commission - Commercial Rentals
Equivalent to 10% of the first years rent payable by both the landlord and the tenant.
VAT Applicable
Vat applicable on agents commission is equivalent to 18%.
Terms and conditions may change from time to time, therefore prior to signing any rental agreements, clients are kindly requested to confirm the above conditions with both the landlord and the agents to update yourself with the new rental laws, we are hereby attaching the link below where one can find all the new regulations and complete guidance to renting in Malta.