Hot Property to Let in Malta

Malta’s rental market is huge and extremely fast moving. There is a wide range of properties available at every price point, but there is also a large number of people coming to the island to look for them every week. As such, because properties are rented out before the previous tenants have even contemplated moving, it is necessary to be quick, decisive and well-advised in order to secure your perfect home. Never fear, it is absolutely possible to find exactly what you are looking for with the right help, and that is where RE/MAX Lettings can show you the way.

In Malta, space is measured by bedrooms and not by square metres, as is the case in many other countries. A long let is considered to be anything over six months and prices may differ if the property is required for anything less than this period. It will not take too long to get used to and understand the size of rental properties and their relative market pricing. Once you start viewing properties, you will appreciate what you can get for your euros and will be able to make more of a knowledgeable decision about which to pursue. Once you start comparing properties, you will immediately start to gauge and nail down your budget. You will realise that rental prices vary according to property size, finish and furnishings.

Rental Reform in 2020

As of 1st January 2020, the latest Act C3176 which was passed in Parliament in the last quarter of 2019 will come into place. It is important to note the changes in the law in relation to your next rental property or your current rental agreement.

The Maltese Government has acted upon an important real estate segment which has otherwise been left without much supervision. The Maltese Tenant Association and segments such as the iGaming Industry have been lobbying for the last eighteen months or more to create more structure which brings more stability for tenants relocating to Malta and looking for a Long-Term rental.

The act has been created with a view to provide the necessary protection to tenants and to incentivise landlords to register their rental properties and to evidently pay their necessary dues accordingly. The following are some of the main highlights of the reform.

– Annual 5% cap for current rental agreements
– Minimum rental agreement of one year
– Rental Agreements will need to be registered (Government using blockchain)
– Property Owners will be provided Tax Credits the longer the rental agreement
– New law will not apply to any lease drawn up before 1995
– Criminal action will be taken against landlords that do not register lease
– Owner must declare deposit and create an Inventory
– Tenant will be bound for a min 2 months for 1 year Long-Let agreement and 4 months for 2 year Long let agreement
– Room Rentals or Short Lets no longer than 6 months, only applicable for non-residents workers, students or tenants looking to establish Malta as their primary residence.
– New Adjudicating panel will be introduced. Maximum claim up to €5000.

Speed of Rental Market and Dedicated Long-Let Rental website

Due to the speed with which the market moves and because properties may be listed with a number of different agents, it is important to understand that properties listed on the RE/MAX website may not be available when you arrive but that alternative, similar homes become available on a daily basis.

The list of rental properties below is generated on a weekly basis and is a reflection of homes that are available immediately. It is recommended that you click on properties that interest you and, from there, further navigate the site. Alternatively, you may browse our dedicated rental website at https://remax-malta.com/letting where you will find recently-added properties and featured rental homes. It is a comprehensive rental knowledge base; full of numerous tips, relevant information related to letting a property, and guides that provide data related to the lifestyle in Malta. An interesting feature that we have recently added to our property rental website is an availability page that indicates when a property is likely to become available.

Building a Relationship with a Letting agent

It is important that you initiate a relationship with a letting agent in Malta and then ensure that they fully understand your search requirements. The key to doing this is to make contact with a reputable company that has a specialised department for rentals and offers a sizeable database. A professional letting agent will understand the market and be able to provide you with important guidance as to the benefits and any hazards or hidden problems in properties which you view. Furthermore, they will advise you regarding wider topics such as landlords, locations and factors such as schooling and local transportation. As previously mentioned, the rental market is predominantly open (meaning that listings will appear with several different agents) so, to avoid seeing the same property over and over, it is recommended you work with one letting agent exclusively. In today’s rental market, timing is of the essence and a reputable agency, with has a good track record with landlords, will be the first to find out when a new property is available. This is where the value of a good relationship with one estate agent is obvious. When he or she receives an alert that a property has come onto the market, you can expect to get that call immediately, and are far less likely to miss out if you are well known to them and they understand your individual requirements.

RE/MAX Lettings

RE/MAX Lettings has been established since 1999 and was one of the first fully fledged relocation companies in Malta. Our associates receive regular real estate training via our world-class training centre, and are mentored on a daily basis by our management team. Our property database is comprehensive and regularly updated, ensuring that you see the best that the current market has to offer.

Customer service is central to what makes RE/MAX Lettings special, and our agents are at pains to understand exactly what is important to your property search in order to find you the perfect home quickly and easily. We have an expert understanding of the Maltese letting market and an excellent relationship with our landlords, ensuring you feel confident that you will never miss out on a golden opportunity.

The company takes pride in having handled the relocation of personnel from many large corporations based in Malta, including: Skanska JV Malta, ABB, Transocean, Epic Malta (Vodafone), GO p.l.c., Nortel Networks, several Internet iGaming companies, and a variety of banking institutions, among others.

To Sum Up

There is a hot property in Malta for everyone. Regardless of your budget – whether you are looking for the least or the most expensive home – the right place is out there for you. Timing is of the essence and the sooner you find a letting agent that you feel is competent and knowledgeable, the quicker you will find yourself signing a tenancy agreement. Do your homework, nail down your budget and key requirements, and then trust the guidance of your property expert. You may view the property listing page of each property by clicking on the image. If you require more information about a particular property in Malta, please add the MLS / REF ID number in the comments so we can get back to you with the relative information immediately.