6 Risks Landlords Must Know When Renting Property

Renting out a property in Malta can be financially rewarding, but it’s not without its stresses. Landlords take on a fair amount of liability in leasing their property for rent in Malta and Gozo, and with the wrong tenant, you could be setting yourself up for a nightmare situation. 

Screen potential tenants

Finding the right tenant can be a challenging process. Taking the time to properly screen potential tenants, rather than jumping at the first offer, is vital to ensure you find someone who will treat your property for rent with the care you’d expect. 

But once you’ve found a suitable tenant, it’s important to properly understand your rights and responsibilities as a landlord, to know what you should and shouldn’t expect from your tenant and to be equipped to handle any issues or disagreements that could arise. 

Maintaining a good relationship with your tenant will also help mitigate any problems, but here are some things not to expect from someone renting your property in Malta or Gozo.

Delays with rent and bills

Paying rent and any additional bills on time is the cornerstone of your agreement with your tenant. By law, rent is due monthly unless otherwise agreed, and you cannot require advance payment of more than one month’s rent. As a landlord, you should not expect to have to chase after rent and be ready to get firm if your tenant is consistently late with their payments. 

Of course, it’s always ideal to maintain a good relationship with your tenant, and a bit of good faith on both sides goes a long way. Unforeseen issues do occasionally crop up, and there may be legitimate reasons for you to be a bit lenient on occasion. But you probably don’t want to make too much of a habit of it to avoid setting up unhelpful expectations.

Causing damage to the property

Keeping control of your rental property is of utmost importance. Tenants should do their utmost to look after the property for rent in Malta and keep it in a good state of repair, and you should expect them to pay for any damages they cause. The security deposit can offset any costs associated with damages left behind at the end of the lease. 

Similarly, you should not expect your tenants to circumvent any rules you’ve put into the rental agreement to protect the rental property. If you’ve agreed on no pets or no smoking within the property, those rules have to be adhered to. 

Ignoring problems that could get worse

Things do sometimes go wrong through no fault of your tenants. Appliances break down, windows break, mould develops, or plumbing and electrical systems need looking at. While fixing most of these problems is part of your responsibility as a landlord, your tenants should inform you of them as soon as possible so you can address them in good time and prevent any further damage. 

Your tenant should also give you access to carry out the necessary maintenance works and for occasional inspection visits, provided you give sufficient notice in all cases. So when issues do arise, you should expect to know about them as soon as possible and to be able to deal with them in a timely manner. 

Changing things without permission

Your tenant is responsible for returning the property for rent in Malta to you at the end of the lease more or less as you handed it over to them. So you should never expect to find that significant changes or renovations have been made without your knowledge, whether it’s newly painted walls, new finishes, or landscaping changes in a property with a garden. 

Of course, you may be completely fine with a tenant painting a room or refinishing a cabinet while they’re living in the rental property. You may even welcome it. But the key is that any changes are discussed and agreed on in advance, and take place with your permission, rather than coming as a surprise. 

Bringing new residents into the property

As a landlord, you have a right to know exactly who is occupying your property at any given time. Tenants may have an interest in subletting their rented property as a way to leave their lease early, or if they’re going to be away for an extended period of time. They may even be interested in using services like Airbnb to make a bit of extra money.

But none of this can happen without your knowledge and, more crucially, your permission. Other than some reasonable allowances for visitors, you should not expect anyone to be staying in the property for rent without you knowing about it.

Leaving without notice

Finding and vetting a suitable tenant for your property for rent in Malta can sometimes be challenging, so the last thing you want is for one you get along with to leave in a hurry, forcing you to scramble to start the rental process of finding a new tenant all over again. Fortunately, the law provides clear guidelines for when and how a tenant can end their lease, requiring a notice period of one, two or three months depending on the length of the lease. 

There are also limitations on how soon into the lease a tenant can end the agreement without forfeiting a month’s rent. This means you should never expect to find yourself high and dry with a tenant leaving suddenly. Read more about a guide to letting the right property in Malta. 

Our team of experienced experts at RE/MAX Letting is here to help you with any questions you may have about your relationship with your tenant. Get in touch today!