Letting Agreement Malta Download

Under Maltese law, a lease agreement can be signed between two parties with the legal capacity to do so. It is forbidden to enter into a lease in the following cases: the rental of a property is little paperwork. Once a property has been found, the tenant is required to sign a rental agreement that is usually provided by the real estate agent. This agreement lists the rights and obligations of tenants and landlords/owners. When renting, homeowners must take out appropriate insurance for their property. Building and homeowner content insurance often covers damage caused by fires, natural disasters, malicious damage, water, falling trees, theft, rents and damage to housing. The owner of the property is not legally required to change the services on behalf of the tenant and the change can only take place with the agreement of both parties. A deposit is payable (refundable in case of change) to pass the price of the accommodation. Apartment rentals used exclusively for tourism are exempt, but MTA-licensed properties rented for short rentals remain considered short rentals (not tourist rentals). The rent can only be increased if the tenancy agreement is expressly provided and, if so, it can only be increased once a year. There are two rates for utilities The “domestic” electricity rate is much higher than the “residential rate.” Maltese residents are entitled to a lower and cheaper “residential rate” if utility companies are changed for their name when renting a property. Make sure that the way electricity bills are paid is set when the lease is signed. Malta is located in southern Europe and is a small country with beautiful landscapes, a rich history and great tourist potential.

Malta attracts not only tourists, but also people who come here for temporary jobs, which is why the rental market has grown strongly in recent years. Malta is also one of the European countries that has specific rules for leases. If the tenant decides to terminate the tenancy agreement before these periods, the lessor may withhold an amount of no more than one month`s rent from the deposit left as collateral.