How Fast Could You Rent a Property in Malta?
The process of renting a property or home locally can be simple, straightforward – and how to rent a property quick.
Malta’s lettings market is thriving. If you are considering renting a new home locally, you might find yourself spoilt for choice when you discover the huge range of different types of rental properties available locally.
So, the leasing process is quick, right? Not necessarily.
How fast you could move into a rental home depends on many different factors. One that has already been vacated by the previous tenant and is in a good condition may even be available for you to move into the next day. In other cases, you may be asked to start your lease in the next week or month or to wait for works to be carried out.
Of course, arriving at the point where you are agreeing a move-in date with the landlord depends on how long the overall rental process has taken – and how well you have prepared for it.
Here is our handy guide to what to expect during the leasing process, to help you sign on the dotted line and move in faster.
1. Make your wish list
Before you even begin to browse the listings, you need to know what you are looking for. Write down what is most important to you in a rental, from the length of time you expect to be living in it to your preferred locations.
Decide now if you would be living alone or with other tenants, whether your desired locations would be convenient for your daily work commute or are an easy distance from friends or family, and how big the property should be to fit your needs.
Remember also that what you want and what you need out of a rental home may not be the same. You might dream of a seafront apartment for access to the beach, yet a central townhouse might be better suited to your lifestyle.
2. Know your budget
At this stage, it is crucial to also establish how much you can realistically afford to spend when renting.
Your budget should not only include the amount you can comfortably pay for your monthly rent, but it must also cover the extra costs of utilities such as water, electricity, gas, or an internet, telephone and television package. There may also be ad hoc resident fees to maintain communal areas in an apartment building, for example.
You should also take into account that, at the time of signing the letting agreement, you will be obliged to pay the equivalent of one month’s rent as a deposit in advance, as well as the first month’s rent on the property and the agency fee, which tends to amount to half the monthly rent again.
Once you have communicated your wish list and your budget to your RE/MAX letting agent, they can help you select the type of properties – and the locations – that offer you the best fit for your needs.
3.Create a shortlist
Now you can browse the listings on the extensive RE/MAX database, bearing in mind your budget and the types of properties you know you are looking for, thanks to your time-saving preparation.
Meanwhile, your RE/MAX letting agent will be carefully selecting a shortlist of properties that fit the brief, so that you can create a refined list of potential homes ready for the next step.
4. View the properties
For many, perhaps the most exciting part of the rental process is when you can view the properties on your shortlist in-person.
Led by your RE/MAX letting agent – who will be asking all the right questions related to the condition of the property and the terms of the lease – you can visualise how you might live in each one. Much like buying a new place, leasing one depends on you feeling at home there, so now is your chance to explore that.
Having visited the properties on your shortlist, then it is down to you to decide which one – if any – is the right choice for you.
5. Negotiate rental price and sign the contract
Once you have made your decision, your RE/MAX letting agent will negotiate a price with the landlord that is fair for everyone and in keeping with your agreed budget.
If the price negotiation is settled quickly, then you can move directly onto signing the rental agreement. This contract will outline all the mutually agreed terms, including the price, the date payment is due each month, utilities costs, and the terms of the deposit.
The contract is normally signed by all parties during a brief meeting, which might also include a run-through of the property’s inventory with the landlord. At this meeting, you will also be asked to settle the deposit, first month’s rent and agency fees.
6. Move in!
Once the contract has been signed, all payments settled and inventory taken, you will be handed the keys and are free to move in.
Here, your RE/MAX letting agent is still on-hand to help. Our complete concierge service includes assistance with internet, telephone and television installation, sourcing housekeeping or furniture removal services, recommending reliable contractors for property maintenance, and much more.
The RE/MAX takeaway
RE/MAX Letting is Malta’s oldest dedicated letting team – and the largest. We can guide you through every step of the process of renting a property, to help you move in faster. Get in touch today at www.remax-malta.com.