The all important contract

In Malta there is no standard contract for renting a property but there are certain pieces of information that it should contain. 

Lets also not forget that there should be an inventory of what the flat contains signed at the same time as the contract. You maybe excited about finding your new home but do not rush this part as you may very well regret it at a later date. Watch out for phrases in it you may not understand (Tale Quale’ – as seen, for example).

“The Maltese government applies a tax of 15% on rental income, that is valid for residential contracts only. The tax, introduced in January 2014, is paid by the lessor.” This means that the landlord pays it and not the tenant so if there is a phrase in the contract stating the tenant is liable then simply do not sign it.

Here is a link to some more useful contract information Contracts in Malta

To be super sure the contract is 100% legal then get it witnessed by a notary once both parties are happy with it.

Lets get to the 5 pieces of information that every contract in Malta should contain;

  1. Property Leased
  2. Agreed use
  3. Duration of lease
  4. Whether lease is extendable
  5. Amount of rent to be paid

contract_salesman_signature_md_wm

There are other pieces that you may also want to consider having added to the contract for your own protection;

  • Utilities to be paid on residential rate via landlord signing form H
  • Agreed termination notice – 2 months Landlord, 1 month tenant
  • Deposit paid is clearly stated as returnable at end of tenancy with allowance for damage or breakages.

Having this form signed by the landlord will mean that you get the residential rate and save between 43 and 103.4% on your water and electricity.

Print your copy of form H here and get the landlord to sign it at the same time as the contract.

Hard work at the contract stage will save you some potential heart ache when you come to the end of your tenancy.   Feel free to use the contact form below if you need advice.

 

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Powered by WordPress.com.

Up ↑

%d bloggers like this: