The Ultimate Guide To Long Term Rental In Malta
So you went to Malta for vacation but couldn’t get enough of this gorgeous island. Now you find yourself looking for a long-term rental property to help you set some temporary roots. Sounds like a plan.
You’ll be able to explore Malta like a local without worrying about expensive hotel or Airbnb costs. And you’ll get to see all the secret spots that most tourists skip over on account of not having enough time in their itinerary.
So far your plan sounds failsafe, except you’re going to need a little guidance to see it through. Like any other country, Malta has a unique long-term rental process that you’ll need to learn and navigate. The good news is that we’ve done lots of research on this subject and are confident that we can offer you valuable advice on how effectively find a long –term rental in Malta. Read on for more.
Guide To Long-Term Rental In Malta
There are several different ways that you can use to seek a long term rental in Malta. You’re also spoilt for choice when it comes to apartments, locations, and agents. In this article, we’re going to start by comparing the difference between acquiring a long-term property rental through an agent or a landlord.
How To Rent Through An Agent In Malta
- Benefits of renting through an agent
The first thing most people will do when considering a long term rental in Malta is to approach an agent. This makes things easier for you because agents have the inside track on all the latest developments and they’re better suited to advise you on the best location for your needs. That’s why you’re likely to find a long term rental faster when working with an agent than you would if you were looking on your own.
Plus, agents have lots of properties under their belt and at their disposal to offer you.
- Disadvantages of renting through an agent
You’re bound to come across a few challenges even when looking for a long-term property rental through an agent.
For example, most real estate agents don’t regularly update their websites so they often have outdated properties in their database. So you might find a property on their website that you like only to find out that it has been occupied for almost a year.
They’re not good at taking direction. Some real estate agents have been known to completely ignore their client’s requests by coaxing them to go over budget or to consider changing the location that they initially wanted.
If you come across an agent that does this, simply thank them for their time and move along. Find someone who won’t waste your time with options that are not of your liking and who’s willing to genuinely help you find exactly what you’re looking for, or close enough.
Renting Through A Landlord
- Benefits of renting through a landlord
Another option is to approach a landlord and rent the property directly through them. This approach comes with many benefits such as not having to pay any agency fees. Plus, you can ask the landlord directly about any issues that you may have with the apartment.
- Disadvantages of renting through a landlord
A huge downside of renting through a landlord is that there’s very little chance that you’ll get your security deposit back after you move out as Maltese landlords are known to withhold it.
If you want to guarantee that you’ll get your security deposit back when it’s time to move out, make sure to protect yourself by:
(i) Making a note of everything in the apartment and the condition it’s in as soon as you arrive.
(ii) Update your inventory list by making a note of any and all breakages and repairs that happen while you’re a tenant.
(iii) Insist that the landlord sign the inventory list and make sure there’s a witness present so they can’t deny it later. Ideally, the witness should sign the doc u ment also just to be on the safe side.
(iv) Make sure that you’re present when the landlord comes to check the apartment in preparation for your moving out.
You also have to organize viewings on your own which can take a lot of time and effort. But, you could always simplify the process through the use of convenient services like Maltapark and Fltatscanner.
- Maltapark:
Maltapark is a national auction website from Malta where people go to buy and sell different products and services, including long term apartment rentals. The disadvantage of using Maltapark is that most of the apartments advertised on the website are actually posted by real estate agents, which means you still have to pay agency fees. You may still find rental properties offered by actual landlords but they’re few and far between.
- Flatscanner:
Flatscanner is a reliable apartment listing website that’s native to Malta. The objective of the site is to connect landlords and agents with potential renters. The great thing about this website is that landlords and agents are required to specify who they are so there’s no deception which is so common with Maltapark.
Plus, you can filter your search to only show landlord listed properties and avoid coming across agent fees. Flatscanner is also super easy and straightforward to use so it should be a cinch for even a beginner to find a long term apartment rental here.
Step By Step Process Of Finding An Apartment In Malta
- Contact an agent of your choice and provide them with the specifications of your preferences. This includes your budget, the location, size and finish of the property.
- The agent will look at the available options in their listing to see if anything resonates with your preferences. Once they have something, the agent will contact you to go on several viewings. You can go through 5 to 6 viewings in a day and the best time to go is in the evenings when you can take your time to look around each offer without time constraints. Plus, evenings are a much cooler and more comfortable time in Malta during the spring/summer seasons.
- Once you find an apartment that you like you’ll do a second viewing to take a closer look at the finish. It’s best that you do the second viewing during the day so you can check things like water pressure, air conditioning, and mold.
- If you like the apartment, you’ll have to agree on the lease term and price before you sign on the dotted line.
Long Term Rental Costs In Malta
There are various fees involved in getting a long term rental in Malta. First, you have to pay the agent an amount totaling 50% of your monthly rent as the “finder’s fee”. Your landlord will also contribute the other 50% so the agent fee amounts to one months’ rent.
Secondly, you’ll be required to pay VAT which amounts to 17.5% of your monthly rent. Your landlord may also require that you pay a security deposit, which amounts to one month’s rent. This money will cover any damages that you might inflict on the property. But, they should pay it back to you when you move out if you leave the apartment in the same state that you found it in.
As you can see, working with an agent has lots of benefits when looking for a long term rental. While their services come at a price, it’ll be easier and quicker to find a property when working through an agent than when you’re working alone. So when you find a good real estate agent in Malta, make sure to keep their details so you can approach them again when you need another long term rental in the country.
Rental Rates
Property rental rates differ according to the location, the size of the property, duration of tenancy etc. The style of the apartment will also contribute to its rental cost, and options differ from modern to contemporary, mid-century modern and art deco etc.
Of course, you’ll have to pay extra for things like water, electricity, TV, and WiFi. The amount you pay for these conveniences depends on how much you use, so it’s a pay-as-you-go arrangement.
Areas
If you’re looking for a long term rental base in Malta while working or studying, then you should consider properties in the Inner Harbour location. This includes towns like Msida, Sliema and St Julians. These towns are very close to the city center which makes it easy for residents to get to work. But, if you’re a retiree then you should look into a quieter area in the inland countryside of Gozo.
Regardless of the area you choose, you can rest a s sured that you’ll have access to all the amenities you need, including health care centers, clinics, department stores, shopping centers, entertainment centers, museums, restaurants, nightlife, beaches and so much more.
To Wrap Up
As you can see, renting an apartment in Malta can be as simple and straightforward as you want it to be. Plenty of people take out long term rentals in Malta in order to stay in the country for work or education purposes. It’s also a popular destination for retirees that are looking for a change of scenery. The great thing is that there are no restrictions to long term rentals in Malta and properties are available at very reasonable rates